November 15, 2021 (JUBA) – Economic and market liberation reforms currently taking place in South Sudan are essential for promoting transparency and accountability of public accounts, a top International Monetary Fund (IMF) said.
Abebe Selassie, the Director of the African Department at the IMF made the remarks when a delegation from the financial body met President Salva Kiir.
He said the IMF stands ready to continue to support the government of South Sudan in advancing the reforms needed for the promotion of development.
Kiir, the presidency said, held “fruitful” discussions with the IMF delegation.
“H.E [His Excellency, the President and his guest held an extensive fruitful discussion on the economic outlook, reforms and developmental prospects for South Sudan,” partly reads the presidency statement issued on Monday.
The IMF delegation was reportedly accompanied to the meeting by the Presidential Affairs minister, Barnaba Marial Benjamin, Finance minister, Agak Achuil Lual, Central Bank Governor, Dier Tong Ngor, First Undersecretary of Finance, Ocum Genes Karlo and Undersecretary of Planning, Angelo Deng Rehan.
Meanwhile, the Finance minister said the MF delegation lauded the path of reforms South Sudan has started to diversify its economy through the right channels.
He said these economic reforms are for the people of South Sudan, adding that the IMF emphasized the need for transparency and accountability over public resources.
The minister assured the IMF team that the government would continue with the path of reforms in all fields of cash management, revenue authority reforms, what to do with revenues from oil and how the country’s funds can be properly utilized.
Revenues from oil account for nearly 90 per cent of South Sudan’s annual budget.