It is undeniable that the current high cost of living is contributing to a decreasing standard of living in the country. Unfortunately, many people tend to attribute this issue to the dollar, claiming that it is the root cause of our economic struggles. However, it is crucial to critically analyze this perspective and question whether the dollar is truly the problem we should be focusing on.
It is crucial to consider the underlying factors in order to fully understand and address the situation at hand. By neglecting to examine these factors, we risk overlooking key elements that may significantly impact the outcome.
It is vital to acknowledge that we have not fully delved into the core issue at hand. Furthermore, it is important to note that the issue at hand extends beyond just the dollar. Allow me to elaborate on this matter from my perspective.
First and foremost, it is vital to acknowledge that our economy is facing a significant challenge: a heavy reliance on imports. This issue lies at the core of our economic struggles, as it indicates a lack of productivity within our nation.
Our economy thrives on the export of a single, highly valuable commodity: oil.
A focus on a single commodity—oil—has proven to be unviable.
Importing a wide range of goods, including food commodities, medicine, construction materials, and fuel, has placed a very high demand on a single currency, the dollar, which is unhealthy for our economy.
By engaging in international trade and importing these essential items, we place a high demand on the dollar to continue with a steady supply of these products that may not be readily available domestically.
When one becomes overly dependent on a single item or thing, it can lead to a multitude of negative consequences. By placing all our trust and reliance on just one entity, we are essentially putting all our eggs in one basket, leaving ourselves vulnerable to potential risks and uncertainties.
This lack of diversification can limit our options and hinder our ability to adapt to changing circumstances. Additionally, relying solely on one item or thing can create a sense of complacency, preventing us from exploring alternative solutions or seeking out new opportunities. In a world that is constantly evolving, one cannot deny the fact that vulnerability has become an inherent part of our lives, making it evident that we are indeed living in a state of vulnerability.
The ongoing suffering that we witness today can be attributed to the devastating consequences of war and the unfortunate lack of political will to effectively address and resolve the underlying causes of instability.
The presence of peace in society would undoubtedly bring about a multitude of benefits. One of the most significant advantages would be the freedom for individuals to move about without the constant fear of losing their lives. People would be able to move about their surroundings in a peaceful environment without worrying about the looming threat of violence.
Furthermore, the establishment of peace would enable people to reside and establish roots in their respective villages without the constant worry of being subjected to attacks or forced displacement.
This would foster a sense of stability and belonging, allowing communities to flourish and thrive in an atmosphere of harmony and safety. In essence, the presence of peace would not only guarantee the physical safety of individuals, but it would also provide them with the opportunity to lead fulfilling lives, unencumbered by the constant specter of danger.
Regrettably, it is an undeniable fact that our society is currently grappling with a distressing reality: a significant portion of our population is plagued by a multitude of debilitating diseases, rendering their overall health in a precarious state.
When considering the factors that contribute to the current situation, it is important to carefully analyze the root causes. While it may be tempting to attribute blame solely to the dollar, a more comprehensive perspective reveals that the responsibility lies with the political class or elite. By focusing on the actions and decisions made by this influential group, we can gain a deeper understanding of the underlying issues at play.
One crucial matter that demands our attention is the significant failure of the central bank, the sole entity entrusted with the responsibility of implementing and managing monetary policies.
The central bank possesses the necessary tools to effectively stabilize prices in the market. It is widely acknowledged that the responsibility for price stabilization lies with the central bank.
The inability of the Bank of South Sudan to effectively mop up surplus South Sudanese pounds in the market poses significant challenges and raises concerns. This situation not only hampers the stability of the local currency but also undermines the overall economic health of the nation. It is crucial to address this issue promptly and implement effective measures to ensure the proper management and control of the currency supply. By doing so, we can foster a more stable and prosperous financial environment, which will ultimately benefit the people and the economy of South Sudan.
The current market conditions indicate a higher availability of the South Sudanese pound in comparison to the dollar. The current situation in South Sudan reveals a concerning disparity between the volume of the South Sudan pound in circulation and the corresponding value of goods available in the economy.
The crux of our predicament lies in the unaddressed issues that plague us, which I have aptly labeled as the underlying factors that perpetuate our suffering.
Contrary to popular belief, the dollar is not the primary issue at hand.
The presence of an increasing number of pounds in our economy is a crucial factor that the government must consider when deliberating on salary increments for civil servants. Understandably, the government is cautious about injecting additional funds into the market, as this could potentially lead to an influx of money and subsequently drive up the prices of goods and services.
© 2023. Omiri
