President of South Sudan dismisses Central Bank Governor

South Sudan state television announced that President Salva Kiir fired Central Bank Governor Johnny Ohisa Damian and two other senior finance officials.

This is the second time the President of the Central Bank has been sacked in just over a year.

The announcement made late Monday did not explain why President Ladamian was sacked and James Alec Garang was appointed as the IMF’s adviser in his place.

Salfakir also replaced the two Deputy Governor of the Central Bank as well as the Head of the Government Revenue Authority and other senior officials of the Ministries of Finance and Trade.

Sudden changes in the leadership of the central bank and the Ministry of Finance have been repeated in recent years, and 2020 alone saw the governor of the central bank change twice.

South Sudan’s economy has stagnated since the 2013 civil war, forcing about a quarter of the population to flee to neighbouring countries.

The war led to a decline in oil production, the mainstay of economic activity.

Although crude oil production has improved in recent years, it has not yet returned to pre-war levels.