South Sudan president dismisses finance minister

South Sudan’s President Salva Kiir has removed Minister of Finance and Planning Dier Tong Ngor and replaced him with Bak Chol.

Kiir did not give any reason for the dismissal which came amid hyperinflation and depreciation of the country’s local currency, the South Sudanese pound (SSP).

The SSP fell to a record low of 1,000 against the U.S. dollar, down from 850 to the greenback three months ago.

The new finance minister previously served as controller of accounts in the presidency and later served at South Sudan’s permanent mission to the United Nations.

He is currently an assistant professor at the University of Juba.