South Sudan is currently involved in a discussion with the International Monetary Fund (IMF) to get the money to finance economic recovery.

According to Bloomberg, Central Bank Governor Dier Tong Ngor revealed the plan on a phone call interview expressing confidence that he was sure that Juba would get more money to finance the currency stabilisation plan going forward.

Bloomberg further reveals that governor Ngor said the initial US$52.3 million acquired in November was not enough, and therefore more money from the fund would be necessary for the stimulus plan.

The plan would reinforce recent government efforts to stimulate economic growth. In early February 2021, the central bank introduced SSP1, 000 banknotes which Mr Ngor said would rejuvenate the strength of the currency. The governor also added that the move was in strict conformity with the requirements of the international monetary policy which requires such institutions to review their currency in a span of five to 10 years.

In addition, in a recent interview with The City Review, Finance and Economic Planning Deputy Minister Agok Makur Kur further revealed another plan to review and possibly devalue the current currency if findings would recommend a shift to a different one for economic growth. The government official said a committee had been set up to carry out a feasibility study to that effect.

South Sudan is currently fighting to revive the economy that has borne the brunt of civil war, excessive inflations in the past.