04.05.2015 - IMF: South Sudan currency policy enables 'hidden transfer of resources'
The International Monetary Fund (IMF) says that the South Sudanese government has set an exchange rate between the dollar and the South Sudanese pound that is not “realistic,” alleging that the country's currency policy results in a “hidden transfer of resources” to individuals with “privileged access.” Last Friday the independent Indian Ocean Newsletter reported that an internal European Union memo had characterized South Sudan's system of governance as 'kleptocratic' – a Greek term meaning “rule by theives.” The report added that the existing gap between the official exchange rate and the street rate “benefits a small number of privileged people close to the ruling circles.”..............................................Full Article: Source
Print