FINANCE MINISTER DISCUSSES ECONOMIC SITUATION WITH A VISITING IMF TEAM

Thursday, May 4^th 2023, Juba

Communication Department-MoFP

A team from the International Monetary Fund met the Minister of Finance and Planning, Hon. Dier Tong Ngor and discussed the country’s economic situation.

The team which composes of IMF Deputy Director for African Affairs, Catherine Pattillo, and the head of mission for South Sudan at IMF headquarters, Niko Hobdari and their support staff are in Juba to meet different stakeholders and follow up on strides made at the recent World Bank/ IMF Spring meeting in Washington DC.

In their meeting with Minister Dier, the IMF team enquired about the progress made by South Sudan’s Ministry of Finance and Planning in the mid-term budgetary activities as well as implementation of Chapter Four of the Revitalized Agreement on the Resolution of Conflict in South Sudan.

Minister Dier also briefed the IMF team about the progress through the Public Financial Management-Oversight Committee in implementing the financial and economic reforms agenda.

The conflict in neighboring Sudan was also discussed and its effects on South Sudan’s economy, which heavily relies on oil revenues. On this note, the Minister of Finance and Planning said the oil sector is not affected currently but assured the visiting IMF team of the country’s commitment to secure an alternative plan should the pipeline and oil flow through Sudan be at Stake.

The IMF team concluded their meeting by congratulating the honorable Minister of Finance for positive steps taken in improving the country’s economy by preventing recurrence of overdrafts and unregulated sovereign guarantees.