Prof. Marial Awou Yol, Dean College of Social and Economic Studies (photo from net):
By Kidega Livingstone
An economist at the University of Juba has expressed skepticism over the change of leadership in the bank of South Sudan meant to kick-off economic recovery in the country.
The Dean of College of Economics and Social Studies at the University of Juba Professor Marial Awou Yol described the economy as “a human being who needs medicine if he/she is sick in order to get quick recovery.”
This comes after the Central Bank Governor Dr. Othom Rago Ajak was last Wednesday dismissed and replaced with his Deputy, Dier Tong Ngor.
The dismissal comes amidst continuing ballooning inflation and fluctuating market prices just months after the President revealed that the country was broke.
Professor Awol said that changes of leadership in the Central Bank was not a solution for economic recovery and that the country should instead avoid ‘wrong politics’ in order to switch on production for recovery of the economy.
According to professor Awou, peace was the only solution since the country would be stable for the citizens to produce their own food while business people would be able to transact businesses for the government to generate more revenue to improve the economy.
“As far as the war is continuing and we are not producing, the economy will not improve. There is no oil production. There should be expansion,” he said. “The little coming cannot do anything, in the current situation oil is not a hope because we are not producing,” Awou said during an exclusive interview with Juba Monitor on Friday.
He emphasized that changing the leadership in Central Bank and other government Institutions would encourage corruption because most of the office holders would not be stable in their job for fear of being sacked without implementing their plans.
“Changing leadership is all about politics and it has barriers on economic growth because they will have the opportunities to fill their pocket. You cannot be stable to implement the plan that has been put in place,” the economist said.
Meanwhile one of the economic students at the University of Juba said that the warring parties should agree to bring peace in the country so that people can go to their homes to grow their own food.
“Peace is paramount because it will allow people to go back home to start their own lives instead of suffering,” the student who declined to be named said.
Mr. Nyak Deng, a trader said the dollar rate remained the same though there were changes in the leadership of the Central Bank last week. He said traders were waiting for improvement in the money market by the new leadership in the Central Bank.
“Dollar still remains at thirty thousand South Sudanese Pounds per one hundred dollar, there is no change at all,” Deng told Juba Monitor.
In an earlier interview, the Executive Director of Community Empowerment for Progress Organization Mr. Edmond Yakani said that without conflict resolution and a framework for peace and security, the country’s long-term development and prosperity plans are threatened.
South Sudan is the most oil-dependent country in the world, with oil accounting for almost the total exports, and around 60% of its gross domestic product (GDP), according to international report.