Last Update 17:25
South Sudan central bank governor replaced by deputy
The new governor of the Central Bank of Sudan, Kornelio Koriom, also named as chairman of the South Sudan Currency Conversion Committee
Reuters , Tuesday 16 Aug 2011
Share/Bookmark
Views: 1253

South Sudan, which broke away from the north only last month, has replaced its central bank governor with his deputy, the outgoing bank chief said on Tuesday.

The central bank of Africa's newest nation has been selling dollars to try to stop a slide in its currency, the pound.

"My deputy has now been appointed (as governor), Kornelio Koriom," Elijah Malok told Reuters by telephone. He did not say why he was standing down or give any other details.

As well as his role as Malok's deputy, Koriom was also chairman of the South Sudan Currency Conversion Committee.

Malok previously headed the Bank of Southern Sudan, which was linked to the Khartoum-based Central Bank of Sudan until southern independence.

Malok said last week that the southern central bank had enough reserves to pay for the basic needs of the state for a "few months", even if it does not receive oil revenues.

The war-ravaged and underdeveloped new state has been trying to build up efficient institutions and develop an economy that is at present totally dependent on oil.





Short link:

 

Email
 
Name
 
Comment's Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 4000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online. Advertising