South Sudanese lawmakers have been debating how letters of credit (L/Cs) meant for much needed fuel imports came to be misappropriated by senior officials and business figures.

The MPs blame those who abused the L/Cs for helping consumer prices to soar.

Forex shortage

The L/Cs were made available for fuel imports by the central bank, which provided the credits specifically because of South Sudan's severe foreign exchange shortage.

Reports have emerged that instead of going to genuine fuel traders, the L/Cs were misappropriated by senior officials and business figures.

Investigations

"We made a mistake to award contracts for the delivery of essential commodities to companies which we did not know," speaker, Rundial Magok, told parliament in a heated debated.

"We did not know what they have done with the money given to them by the central bank," the speaker added, and explained that the L/Cs were provided specifically for companies to import fuel.

"We will investigate this and those who will be found to have not delivered will have to answer," he said.

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