South Sudan President Fires Finance Minister After Just Three Months: Economic Turmoil Deepens
By Juba Global News Network | JubaGlobal.com
Published: February 24, 2026
In yet another abrupt leadership change that underscores the fragility of South Sudan’s governance and economy, President Salva Kiir Mayardit has dismissed Finance Minister Dr. Bak Barnaba Chol, barely three months after appointing him to the post. The decision, announced via a presidential decree read on state television by the South Sudan Broadcasting Corporation (SSBC) on the evening of February 23, 2026, replaces Chol with Salvatore Garang Mabiordit, a seasoned economist and former holder of the same portfolio.
This marks the ninth change in the Finance Minister position since 2020, highlighting a pattern of rapid turnovers that has drawn criticism for contributing to policy inconsistency, investor uncertainty, and stalled economic reforms in one of the world’s youngest and most resource-rich yet impoverished nations.
The Dismissal and Immediate Context
Dr. Bak Barnaba Chol assumed the role in November 2025, succeeding Athian Diing Athian, who himself had been relieved after only two months in office. Chol’s brief tenure followed a period of intense fiscal pressure: hyperinflation, a depreciating South Sudanese pound, acute foreign currency shortages, and mounting arrears in civil servant salaries. No official reason was provided for his removal, consistent with previous reshuffles under President Kiir, who has frequently rotated senior officials without public explanation.
The decree also affected other key economic figures: William Anyuol was relieved as Commissioner General of the South Sudan Revenue Authority (SSRA), with Monydeng Abet appointed in his place, and Rou Ayii as Deputy Commissioner General, replaced by Solomon Arik. Additionally, Monica Achol Abel Aguek was removed as Presidential Envoy to the Middle East and Gulf Nations.
Former Minister Chol quickly dismissed rumors circulating on social media of his arrest by the National Security Service (NSS), issuing a statement thanking President Kiir for the opportunity to serve and affirming his loyalty.
Salvatore Garang’s Return: Experience Amid Crisis
Salvatore Garang Mabiordit, the new appointee, is no stranger to the challenges of the finance docket. An economist trained at the University of Khartoum, Garang previously served as Finance Minister from March 2018 to September 2020—a tenure characterized by attempts at economic stabilization, including negotiations with international partners and efforts to manage oil revenues amid global price volatility. He returned briefly to the role from March to August 2023.
His reappointment is viewed by some analysts as a pragmatic move to bring back institutional memory and continuity at a time when South Sudan’s economy faces existential threats. Oil production, the country’s primary revenue source (accounting for over 90% of government income), remains hampered by pipeline disputes with Sudan, production disruptions due to conflict, and low global prices. Non-oil revenue collection through the SSRA has been inconsistent, exacerbated by corruption allegations and weak institutional capacity.
Deepening Economic Turmoil
South Sudan’s economy is in a precarious state. The country grapples with:
- Hyperinflation and Currency Depreciation: The South Sudanese pound has lost significant value against the US dollar on the parallel market, driving up the cost of imported goods and essentials in a nation that relies heavily on food and fuel imports.
- Salary Arrears and Civil Service Discontent: Months of unpaid wages for public servants have fueled strikes, reduced service delivery, and heightened social tensions.
- Humanitarian and Conflict Overlap: Ongoing fighting in regions like Jonglei displaces populations, disrupts agriculture and markets, and diverts resources toward security rather than development.
- Debt and Aid Dependency: External debt burdens, limited access to international financing due to governance concerns, and reliance on humanitarian aid compound fiscal vulnerabilities.
The frequent changes at the Finance Ministry exacerbate these issues by disrupting continuity in budget execution, fiscal policy formulation, and negotiations with donors like the IMF, World Bank, and bilateral partners. Critics argue that such instability undermines efforts to diversify the economy beyond oil, implement anti-corruption measures, and build transparent revenue systems.
Broader Political Implications
This reshuffle occurs against a backdrop of mounting political pressure ahead of delayed national elections now slated for December 2026. The 2018 Revitalized Agreement on the Resolution of the Conflict in South Sudan (R-ARCSS) has faced repeated implementation hurdles, including the recent house arrest and trial of First Vice President Riek Machar. Rapid ministerial changes are often interpreted as President Kiir consolidating power, rewarding allies, or responding to internal factional dynamics within the Sudan People’s Liberation Movement (SPLM).
Observers note that economic portfolios like Finance are particularly sensitive, as control over oil revenues and budgets can influence patronage networks central to political survival in South Sudan.
Looking Ahead: Challenges for the New Minister
Salvatore Garang inherits a ministry in crisis. Immediate priorities include:
- Stabilizing the currency through improved foreign exchange management and anti-speculation measures.
- Addressing salary arrears to restore civil service morale.
- Enhancing revenue collection and reducing leakages in oil and non-oil sectors.
- Advancing dialogue with international financial institutions for potential debt relief or support programs.
- Ensuring transparent and accountable use of resources amid calls for reforms.
Without sustained political will for broader governance improvements, however, even experienced leadership may struggle to turn the tide.
South Sudan’s people continue to bear the brunt of economic mismanagement and instability. As the nation navigates these turbulent times, the latest change at the Finance Ministry serves as a stark reminder of the urgent need for stability, accountability, and inclusive economic policies to foster lasting development and peace.
Juba Global News Network is dedicated to in-depth coverage of South Sudan’s political and economic landscape. For ongoing updates, visit JubaGlobal.com. Share this article to spread awareness.
