IMF to support South Sudan’s economy, says top official

October 30, 2022 (JUBA) – The International Monetary Fund’s (IMF) deputy director for African Affairs, Cathy Patillo said the financial institution would extend the support needed for South Sudan government to respond to inflation and food security challenges.

She made the assurance at a meeting with President Salva Kiir in Juba on Saturday.

South Sudan’s Finance minister, Dier Tong Ngor and the executive director in the president’s office, James Deng Wal attended the meeting on public financial management and reforms in the country.

Ngor said IMF experts would, next week, visit South Sudan to help its financial institutions design social safety nets to protect vulnerable households.

Last year, South Sudan secured up to $334 million to support its economic reforms.

South Sudan, dependent on oil revenue to finance its fiscal expenditure, has been struggling to stabilise its economy amid hyperinflation caused by civil war.

(ST)