IMF backs South Sudan push to restrict dollar transactions
A motorist changes money from a boy at a market in Juba, South Sudan. IMF has backed a move by the South Sudanese government to restrict using the US dollar in local transactions and contracts. PHOTO | FILE
The International Monetary Fund (IMF) has backed a move by the South Sudanese government to restrict using the US dollar in local transactions and contracts as part of the efforts by President Salva Kiir’s administration to contain the high cost of living that has hit households and businesses.
“The IMF supports the South Sudan authorities’ efforts to ensure that the existing legal framework regarding legal tender for domestic transactions is respected,” IMF Resident Representative for South Sudan Guy Jenkinson told The EastAfrican.
