“Most of the citizens are hoarding currency in their houses” – Michael Makuei

IMG 20200926 WA007057,000 South Sudanese Pounds amounting to 100 US-Dollar bill/Photo by Ramciel Broadcasting. Current exchange is 100 : 71,000 SSP and rising steadily as of today

South Sudan minister of Information and Broadcasting Michael Makuei Lueth had said that the currency change is exacerbated by financial hoarding which is a ‘game’ played by most citizens.

Speaking to media sources, the minister said that a committee had presented a resolution to counter the economic fall and to lay out the appropriate recommendation to come out with clear economic policy.

Its actually one of the reports that the citizens are hoarding currency in their houses and most of them hoard them because for so many reasons that they fear that if they take their money to the bank it can be confiscated and so forth. However, this is a normal situation that has been happening and there is always a solution for all these so the cabinet has decided that the currency should be changed.

Hon. Michael Makuei Lueth, Minister of Information, Republic of South Sudan

The alleged reports which RB did not published, revealed by a credible sources, shows that top government officials have thousands of bundles of money in their houses. The money includes US-Dollar, Euros and Billions of South Sudanese Pounds.

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