South Sudan Economic Collapse
The economic situation of South Sudan is indicating total failure, as it is deteriorating from time to time. Currently, the exchange rate of US dollar in the black market is increasing abnormally. It has given chance for traders to increase prices of items they have in the shops. Nobody can say anything regarding what is going on in the markets. Even if citizens complain, nobody could listen to their voices. Right from the beginning of establishing this country, there was no system established by the government on how to go about the market.
Each trader has his/her own price per item according to what he sees appropriate for him. The goods they have in the shops have different prices according to the locations. One item may have different prices, for example in Konyokonyo Market compared to other markets within the city. In one market, you can find prices of items are different because there is no control from the authorities. Traders are the bosses and they control the market system in the country.
That is to say each trader has his or her own way of putting prices of what they are selling. They usually communicate in advance in case they want to increase items or the rate of dollars in the market. Their unity helps them to have effective communication of controlling markets.
They are controlling markets and the rate of dollars because majority of them have big shops in the country and in the main markets. They are mostly foreigners and few South Sudanese who are considered big traders. If South Sudanese traders could help bring items and put reasonable prices, it could help curb economic condition in the country.
Also, the government has not established cooperative system to help citizens buy items in reasonable prices. Everything was left in the hands of traders. However, the several killings in the country from different locations make traders fear to take goods in other places. Lack of total peace in the country has also contributed to the economic meltdown in the country.
Therefore, there are many things that indicate the failure of the economy in the country, if we carry research to know the genesis of the problems.
May God bless us all.