The IMF staff team led by Niko Hobdari which visited South Sudan from May 3-12 lauded the country’s authorities for implementing prudent fiscal and monetary policies and meeting all but one end-March 2023 quantitative targets under the PMB. The government of South Sudan banned the use of the dollar in the economy as part of the conditions towards building a track record for future IMF supported financing programme. Most transactions in the world’s newest nation were initially carried out in the dollar largely due to hyperinflation and the volatility of the local currency. The EastAfrican understands that the dollar bans which was effected in February was part of the conditions under the nine-month Programme Monitoring with Board Involvement (PMB) that sought to achieve the international reserve targets. What is your take on banning and dumping the dollar ?
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