Africa-Press – South-Sudan. The Troika countries, comprising the United States, the United Kingdom, and Norway, have called on the government to ensure the key oil and non-oil revenue data are made available to the public.
“We stress that fiscal data, including on oil and non-oil revenues, should be published on the Ministry of Finance and Planning website regularly and without delay,” the statement read in part.
In a joint statement seen by The City Review, the Troika countries, which are the major donors to the South Sudan government, said making financial data available to the public would enhance trust with international partners.
Why Transparency
matters
They urged the government to make public any outstanding balance it owes Sudan under the Transitional Financing Arrangement, as well as any debt Sudan may owe South Sudan from the oil it receives in-kind each day.
However, the western countries reiterated their commitment to “a peaceful and prosperous South Sudan, in which the population benefits from public services, underpinned by transparent and accountable public financial management.”
Oil revenues account for more than 90 per cent of South Sudan’s annual budget.
The Troika noted that South Sudan has “made important progress in the last year and a half on public financial management reforms, including prudent monetary policy, successful foreign exchange reform, and steps towards sounder public cash management.”
“These steps have already benefited South Sudan’s people through a more stable exchange rate and lower inflation. We urge the government of South Sudan and those now charged with leading economic recovery to continue such reforms in line with R-ARCSS and South Sudan’s commitments under the IMF Staff Monitored Program.”
The Troika said reforms in public financial management must be implemented at a faster pace.
“The necessity of continuing and improving ongoing reforms, as this will demonstrate the government’s commitment to the reform process and increase foreign partners’ trust.”
The group stressed the need for an effective monetary policy to sustain low inflation and a stable exchange rate that would protect South Sudanese citizens from rising prices.
“This means that the Bank of South Sudan must refrain from any monetary financing of the budget deficit.”
“The Troika also stresses the need for the budget to be debated and passed by the TNLA and highlights and a fully functional Cash Management Committee is key to sound spending in line with budgetary allocations,” the statement read in part.
They pledged their commitment to providing support to the government of South Sudan, including recent appointees, on enhancing transparency and accountability for the benefit of all South Sudanese.
For More News And Analysis About South-Sudan Follow Africa-Press
