Former exiled VP Spokesperson, Agel Machar hits at government on currency war
Former Vice President’s spokesperson, Hon. Agel Machar hits back at government over the policy to introduce new currency. Agel, on Tuesday wrote on his social media account that the government has fail and urges the citizens to keep their money at home.
Agel said changing the currency will not save the already deteriorated failed South Sudan banking system.
“Changing the currency will not make anyone trust this failed banking system in the country.”
“Today the exchange rate topped at $1 = 700ssp. This will continue to shoot off the roof with its subsequent economic consequences. Why? Partly because we have decided to convert all our South Sudanese Pounds into dollars/Euros etc. in anticipation of the announced currency change. increased demand for dollars makes it expensive. A move that you believe will make us take our money to the banks and keep them there.
Sorry to break this to you. WE WILL KEEP OUR MONEY OUT OF THE BANKS UNTIL SOMEONE REFORMS AND REGULATE THE BANKING SYSTEM, even if you decide to change the currency every 6 months for the next 10 years. We will convert as much as we can into foreign currencies (East African countries included). The rest we will bank it temporarily yes but then withdraw it immediately after the introduction of new currency.”
The outspoken ambitious young man has recently clashed with the government especially on the security issues in Warrap State. Agel is an ambition man who is not going along with the setting government in Juba. The former president of South Sudan Youth Union is now aiming higher.
Last month, he urges the elders of Bar el Ghazal to review their policy of not including young Dinka youth into the system.