South Sudan central bank runs out of foreign exchange reserves
DENIS DUMO South Sudan, battered by years of conflict and corruption, has run out of foreign exchange reserves and can no longer stop the pound's depreciation, a senior central bank official in the oil-producing has revealed. Daniel Kech Pouch, the bank's second deputy governor, told a news conference that the country's oil revenues had dropped, hitting its foreign exchange reserves. South Sudan gets almost all of its revenue from crude oil, but current output, at around 180,000 barrels per day, has plummeted from a peak of 250,000 bpd before the outbreak of conflict in 2013, according to official figures. "It…