Republic of South Sudan: Third Review Under the Staff-Monitored Program with Board Involvement-Press Release; Staff Report; and Statement by the Executive Director for the Republic of South Sudan

International Monetary Fund

No 2024/327, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper focuses on South Sudan’s Third Review under the Staff-Monitored Program with Board Involvement. Severe spillovers from the conflict in Sudan, including refugee inflows and damages to an oil pipeline, have exacerbated South Sudan’s difficult humanitarian and macroeconomic situation, resulting in an economic slowdown, sharp exchange rate depreciation, high inflation, and higher spending needs against the backdrop of large fiscal revenue losses. Discussions with the South Sudanese authorities during the Third Review of the Staff-Monitored Program with Board Involvement (PMB) focused on re-calibrating macroeconomic policy to address the impact of the external shocks. The authorities remain committed to implementing strong policies and reform measures to restore macroeconomic stability. IMF Management completed the Third review of the PMB with South Sudan. The implementation of commitments taken by the authorities under the Letter of Intent will continue to support macroeconomic stability and debt sustainability. The authorities remain committed to fiscal and monetary prudence and to implementing their medium-term reform agenda.

Keywords: authorities' priority; government operation; VAT regime; authorities view; reform agenda; Oil production; Quasi-fiscal operations; Oil, gas and mining taxes; Global (search for similar items in EconPapers)
Pages: 58
Date: 2024-12-05
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