10 April 2012

South Sudan: Shortage of Hard Currency Hits Businesses in Juba

In an interview yesterday in both jebel and juba market the traders stated that, raising and shortage of dollar has affected the businesses leading to scarcity of building materials and some consumer goods in the market.

Yussif Ahmed a hard wire trader in Juba market said, they are selling in south Sudanese pounds hence the shortage of dollar had made it difficult for them to go and bring other stocks because south Sudanese pounds can't be accepted in any other country except south Sudan and they are buying their goods from countries like Uganda, Kenya, Ethiopia, Dubai and many countries.

Further, Tumusimwe Robert a flour trader in Jebel market added that, the shortage of hard currency and its raising rates had led to high shooting of the prices in the market because whenever he goes to buy his stocks he found that the price had raise and when trying to find out what caused it, he is told it's the raising rate of the hard currency.

In other related field, Robert added that the raise in the prices of goods and services is because of the shortage of hard currency, fluctuating custom fee that is paid that boarder before entering with goods, custom duty which is collected daily in the market and many other unnecessary expectations like in some occasions they will be ordered to closed their shops and when you fail to close the police will fine you any amount.

Finally the traders are urging the government to increase the circulation of dollar otherwise livelihood will be costly and hard in juba town when businesses broke down.

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