S. Sudan’s central bank introduces monetary changes to rescue ailing economy

Salva Kiir.

South Sudan President Salva Kiir holds South Sudan Pound notes in Juba on July 18, 2011. PHOTO | AFP

Juba,
South Sudan’s Central Bank says it will tighten the country’s monetary policy to mitigate the rapid depreciation of the South Sudanese Pound against the US dollar.

In an extraordinary meeting chaired by the newly appointed governor last Friday, Dier Tong said the institution’s Monetary Policy Committee made five resolutions aimed at tackling the devaluation.