Republic of South Sudan: Third Review Under the Staff-Monitored Program, Request for Disbursement Under the Rapid Credit Facility, and Program Monitoring with Board Involvement-Press Release; and Staff Report

International Monetary Fund

No 2023/108, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Republic of South Sudan’s Third Review under the Staff-Monitored Program, Request for Disbursement under the Rapid Credit Facility, and Program Monitoring with Board involvement. About two-thirds of South Sudan’s population is experiencing severe food insecurity, the highest level since independence. Significant reforms have been introduced since the start of the SMP in March 2021, including the unification of the official and parallel exchange rates and increased transparency of oil revenue and government operations. The authorities plan to channel part of the food stock window disbursement via the World Food Programme and International Organization of Migration making use of their systems to provide immediate humanitarian assistance to address food insecurity. In order to help guide their reform agenda aimed at maintaining macroeconomic stability and debt sustainability and improving governance and transparency, the authorities have also requested completion of the existing SMP and a new nine-month Staff Program Monitoring with Board Involvement to lay the ground for an eventual Extended Credit Facility.

Keywords: government operation; South Sudanese authorities; FSW disbursement; IMF team; authorities' effort; reform gain; customs administration reform; Oil; Government debt management; Debt sustainability analysis; Monetary base; Global; Southern Africa; East Africa (search for similar items in EconPapers)
Pages: 100
Date: 2023-03-09
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