Some civil servants in Juba have expressed concerns over the recent statement made by the President about the Central Bank.
The Central Bank keeps the deposits of the national and state governments and makes payments on behalf of governments.
It is also the country’s main regulator of currency and custodian of cash reserve of commercial banks.
Speaking during the swearing-in ceremony of the new minister of finance in Juba on Tuesday, President Salva Kiir said there is no money in the Central Bank.
He said the value of the pound also keeps on deteriorating and these facts have made South Sudan a “laughing stock”.
“With such a remark from the highest authority of the government that there is no money in the central bank, this brings a lot of questions,” said a civil servant in Juba.
“Is there no any revenue coming from any sides?”
President Kiir said the leaders of the country have to think of ways to increase production so as to retain the currency’s value.
He instructed the newly appointed Minister of Finance, Salvatore Garang Mabiordit, to work in collaboration with other ministers to bring up the country’s economy.
“People are already getting frustrated. There is going to be a general breakdown of services. If you are not getting paid then you will have no way to get to work,” added another civil servant.
It is not clear why there is no money in the central bank.
However, several international research groups recently reported that the country’s main source of revenue – the oil – is being diverted to funding military operations, with limited “oversight and accountability”.