{"id":10025,"date":"2022-02-12T08:45:14","date_gmt":"2022-02-12T08:45:14","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system"},"modified":"2022-02-12T14:21:59","modified_gmt":"2022-02-12T14:21:59","slug":"government-to-improve-finance-and-banking-system","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system","title":{"rendered":"Government to improve Finance and Banking system"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>By Bida Elly David<\/b><\/p>\n

The National Government yesterday pointed out that necessary measures have made to strengthen and reform banking and finance system in the Country through collaboration in the national Ministry of Finance.<\/p>\n

This concern came after the government realised that there has been constant and simultaneous cash outflow to foreign Countries leading to economic jeopardy of the Country.<\/p>\n

Speaking during the presentation regarding the status of the peace process, Dr. Martin Elias Lomuro, the national Minister of Cabinet affairs said that the Ministry of finance and the Central Bank were obliged to work with the international Monetary Fund, World Bank in order to reform the banking system.<\/p>\n

\u2018\u2019For improvement of the economic sector, there was a recommendation for strengthening and reforming the ministry of finance and planning and on capacitating and reforming the bank of South Sudan. As a result adhoc committee, commercial banks will be used to monitor and evaluate the implementation of the resolution for reforming the finance and the banking sector. Most Commercial banks charges on savings on accounts opened and overdrafts and later transfer cash out of the Country\u2019\u2019 Lomuro said<\/p>\n

Furthermore, Lomuro reiterated that South Sudan economy has been jeopardised because of the continuous cash outflow to foreign Countries by foreign companies, Organisations and banks who contributed less towards employing the nationals in a sensitive positions.<\/p>\n

Lomuro added that the resolution for the non- oil sector pointed out that no individual or companies shall be given crude oil cargos anymore and those Companies and individuals who previously got Cargos could only get their money when government sells it through internation system of Marketing .<\/p>\n

He added that the reforms from the Ministry give the national Ministry of Petroleum as part of the resolution to undertake uniform human resource policies in the oil sector.<\/p>\n

\u2018\u2019The oil companies are being run by foreigners in a sense that if you are a South Sudanese engineer in an equal qualification and capacity, you get far less as remuneration from the collections done from the oil revenues by the companies\u2019\u2019 He pointed<\/p>\n

Lomuro pointed out that reforming the finance and the Banking system will regulate the external movement of Money to foreign Countries and will result into economic stability and leaders will be saving within.<\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. By Bida Elly David The National Government yesterday pointed out that necessary measures have made to strengthen and reform banking and finance system in the Country through collaboration in the national Ministry of Finance. This concern came after the government realised that there has been constant and simultaneous cash outflow to foreign […]<\/p>\n","protected":false},"author":84,"featured_media":10024,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-10025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nGovernment to improve Finance and Banking system - South Sudan<\/title>\n<meta name=\"description\" content=\"By Bida Elly David The National Government yesterday pointed out that necessary measures have made to strengthen ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government to improve Finance and Banking system\" \/>\n<meta property=\"og:description\" content=\"By Bida Elly David The National Government yesterday pointed out that necessary measures have made to strengthen ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system\" \/>\n<meta property=\"og:site_name\" content=\"South Sudan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-12T08:45:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-12T14:21:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2022\/02\/img-6207c270a2a98.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"362\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Government to improve Finance and Banking system\",\"datePublished\":\"2022-02-12T08:45:14+00:00\",\"dateModified\":\"2022-02-12T14:21:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system\"},\"wordCount\":395,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2022\/02\/img-6207c270a2a98.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/government-to-improve-finance-and-banking-system\",\"name\":\"Government to improve Finance and Banking system - 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