The economic situation in South Sudan is severely affecting the poor.
Citizens are crying out in the streets of Juba, expressing their frustration with the leadership’s inability to address the economic crisis. Many believe there is a lack of competent economists in the country.
The South Sudan economy is struggling primarily because many businesses are run by foreigners and other trailblazers who dominate the market. As a result, money generated from businesses in South Sudan often leaves the country immediately, wired to international investors, while the government seems oblivious to this setback.
The economic meltdown is a manifestation of multiple severe issues, leading to high bankruptcy rates and unemployment, as well as a breakdown in normal commerce caused by hyperinflation. This situation highlights the weaknesses in the country’s leadership. It is abnormal for citizens to live under such conditions.
To stabilize the economy, great economic thinkers should collaborate with the government to provide sound ideas, without politicizing the issue. Furthermore, relying on the International Monetary Fund (IMF) is not a viable solution for South Sudan, as its systems have proved ineffective in addressing our issues, particularly in a country plagued by corruption.
The lack of fixed exchange rates has created chaos, with every market operating at its own rates, even in the so-called black market.
A responsible nation cannot blame external factors for its economic collapse. Since gaining independence on July 9, 2011, South Sudan has made little progress, largely due to politicians’ focus on their positions rather than on stabilizing the economy. Central bank policies are often complicated, making it difficult for citizens to exchange money directly from banks; instead, they rely on the black market. One must ask: who are the owners of this black market, and how long will this system persist with the leaders looking on?
The suffering of citizens seems to go unnoticed by leaders. For how long will people continue to plead for help? It is essential for our leaders to listen to the voices of the people. Many countries that once faced similar situations have managed to stabilize their economies without blaming the wars of other nations.
The central bank must move beyond merely issuing press statements and start implementing solutions. Must citizens continue to suffer and die from hunger? The government and economists must take decisive action to establish permanent exchange rates and eliminate the black market.
Politicians should not focus on elections while people are starving; instead, they should support the nation in combating this economic crisis.
God Protect South Sudan
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