With the country’s economy worsening, Bank of South Sudan seeks to raise Bank rate to 15% to tighten the monetary policy stance to mop the excess liquidity from the direct borrowing from the Central Bank”, read part of the statement released on Friday, November 06, 2020.
According to Hon. Dier Tong Ngor, the Governor of the Central Bank, the Bank of South Sudan’s Monetary Policy Committee (MPC) convened an extraordinary meeting to find a solution to the currency crisis.
Below is the letter released to the media outlets on Friday:
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