New Africa macroeconomics blogging

Greg Smith is blogging at Ndoronomics.com - sharp analysis on macroeconomics in Ghana and elsewhere. Self-recommending.

South Sudan macro update

A friend writes:

"Sudan Tribune today reports that Sudanese Dinar is today at 8.2 to the USD in KRT, street, 4.4 official. SSP meanwhile at 4.something to the USD, street, and 3.2 official."

So whilst the Government of South Sudan continues to lose money to corruption through the fixed artificially strong exchange rate (last year Chris Adam and I estimated the cost to be around 12-15% of government spending), they aren't losing as much as North Sudan, who are really taking the piss.

And at least inflation seems to have stabilised this year after a huge increase in prices through 2011 and 2012.

Source: SSNBS

The impact of mining in low income economies

From a new paper by colleagues at OPM with the ICMM. 

Inflation in South Sudan

YIKES! 

SIXTY PERCENT inflation in South Sudan. That is pretty much crisis levels. Credit to the National Bureau of Statistics for getting the figures out so quickly. This is largely a reflection of how dependent South Sudan is on imports, as poor rains regionally have sent food prices soaring in Kenya and Uganda, and independence has caused disruption to Northern traders and at the border.