JUBA – South Sudan’s President Salva Kiir Mayardit issued a republican decree on Friday night, relieving Bak Barnaba Chol from his position as Minister of Finance and Planning.
Chol’s dismissal comes less than a year since his appointment to the position in August last year.
In another decree, President Kiir appointed Awou Daniel Chuang as Chol’s successor. Chuang, formerly South Sudan’s Petroleum Minister until February 2020, then served as the ministry’s undersecretary until his dismissal in July 2022.
The presidential decree, broadcast on the state-owned South Sudan Broadcasting Corporation (SSBC), did not provide specific reasons for the change in leadership within the finance ministry.
Chol’s removal coincides with a challenging economic period for South Sudan. The nation grapples with economic strains, highlighted by the weakening exchange rate of the South Sudanese pound.
Officially, the pound trades at SSP1612.2471 against one United States dollar, while on the parallel market, it hovers around SSP1900.
Chol’s departure follows a trend of short-lived tenures in the finance ministry. He assumed office in August 2023, succeeding former Finance Minister Dier Tong Ngor, who also served for less than a year.
The repercussions of this ministerial change amid economic uncertainties remain to be seen, as South Sudan aims for stability in its financial landscape.
