{"id":58733,"date":"2024-05-22T15:17:31","date_gmt":"2024-05-22T15:17:31","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-joins-debt-managing-financial-institute"},"modified":"2024-05-22T15:35:39","modified_gmt":"2024-05-22T15:35:39","slug":"south-sudan-joins-debt-managing-financial-institute","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-joins-debt-managing-financial-institute","title":{"rendered":"South Sudan joins debt-managing financial institute"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>South Sudan signed a Memorandum of Understanding with Macroeconomic and Financial Management Institute for Eastern and Southern Africa (MEFMI) on Tuesday, making the country the latest member of the bloc.<\/p>\n

Deputy Minister of Finance and Planning Agok Makur, who signed on behalf of the government, said the country will now be able to effectively utilize its resources and bring its debts under control.<\/p>\n

Makur said the MEFMI membership will also benefit the two financial institutions \u2013 the Central Bank and Finance Ministry \u2013 through capacity building and human resources.<\/p>\n

\u201cTo be a part of this macroeconomic and financial management, we benefit as South Sudan, especially in the Ministry of Finance and Central Bank, in terms of capacity building and human resources,\u201d he told the media in Juba.<\/p>\n

\u201cIt is not only from the debt management or microeconomic development but also, we can go beyond, because as we know, the African continent has many resources here, and we need to use it.\u201d<\/p>\n

MEFMI is a regional organization that promotes sustainable economic development through macroeconomic, debt management and financial management capacity building.<\/p>\n

Emphasizing policy formulation, implementation, and analysis, MEFMI supports its member countries in achieving macroeconomic stability, sustainable growth, and financial sector resilience.<\/p>\n

By becoming a member of MEFMI, South Sudan gains access to a wide range of capacity-building programs, technical assistance, and policy advice to enhance its economic governance and financial management capabilities.<\/p>\n

Central Bank Governor Dr. James Alic Garang said the country will require significant assistance in ways to manage its debt, boost macroeconomic conditions, grow the bond market, and develop its financial system.<\/p>\n

Dr. Garang said the country should not only depend on a narrow market, or foreign exchange market, adding that there is a need to tap into the bond market.<\/p>\n

\u201cThere are areas where we are going to need greater support in the area of finance, really, the debt management. At the Bank of South Sudan, we need reserve management, macroeconomic forecasting, those are the areas.\u201d<\/p>\n

\u201cThese are the two institutions. But for the country, we need to put our foothold in the financial market, in the development of the bond market.\u201d<\/p>\n

A narrow market is an inactive market, which displays large fluctuations in prices due to a low volume of trading, while a bond market is a marketplace for debt securities.<\/p>\n

This market covers both government-issued and corporate-issued debt securities, and allows capital to be transferred from savers or investors to issuers who want funds for projects or other operations.<\/p>\n

\u201cIn this country, we depend so much on a narrow market, and that is the foreign exchange market. But there are other markets that we have not developed,\u201d Garang said.<\/p>\n

\u201cThe development of financial markets, something that we see in Zambia, in Kenya, in South Africa, in Egypt, in Ghana, in other places, in Cote d\u2019Ivoire; we need to tap also into the bond market, and we have not done that before.\u201d<\/p>\n

In his statement, Louis Kasekende, Executive Director of MEFMI, stated that the organization takes pride in meeting the unique capacity requirements of its member states.<\/p>\n

He added that whenever South Sudan declares its areas of interest, the financial institution will respond accordingly.<\/p>\n

\u201cWe pride ourselves in responding to the capacity needs of the country. So, we have a discussion with you and you say, yes, this may be the focal area, for example debt management, we shall respond\u201d he said.<\/p>\n

\u201cWe have tools that we use to respond. We pride ourselves in responding quickly to your needs.\u201d<\/p>\n

Before South Sudan joined, the Macroeconomics and Financial Management Institute for Eastern and Southern Africa had roughly fourteen members.<\/p>\n

They include Kenya, Uganda, Tanzania, Rwanda, Zambia, Angola, Botswana, Mozambique, and Zimbabwe are among the member states; Harare serves as the institute\u2019s headquarters.<\/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. South Sudan signed a Memorandum of Understanding with Macroeconomic and Financial Management Institute for Eastern and Southern Africa (MEFMI) on Tuesday, making the country the latest member of the bloc. Deputy Minister of Finance and Planning Agok Makur, who signed on behalf of the government, said the country will now be able […]<\/p>\n","protected":false},"author":84,"featured_media":58732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,293],"tags":[234,265,233],"class_list":["post-58733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-to-homepage","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nSouth Sudan joins debt-managing financial institute - South Sudan<\/title>\n<meta name=\"description\" content=\"South Sudan signed a Memorandum of Understanding with Macroeconomic and Financial Management Institute for Eastern and S ...\" \/>\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\/south-sudan-joins-debt-managing-financial-institute\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Sudan joins debt-managing financial institute\" \/>\n<meta property=\"og:description\" content=\"South Sudan signed a Memorandum of Understanding with Macroeconomic and Financial Management Institute for Eastern and S ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-joins-debt-managing-financial-institute\" \/>\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=\"2024-05-22T15:17:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-22T15:35:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/05\/sm_1716379400.920855.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1200\" \/>\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=\"3 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\/south-sudan-joins-debt-managing-financial-institute#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-joins-debt-managing-financial-institute\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Sudan joins debt-managing financial institute\",\"datePublished\":\"2024-05-22T15:17:31+00:00\",\"dateModified\":\"2024-05-22T15:35:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-joins-debt-managing-financial-institute\"},\"wordCount\":643,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-joins-debt-managing-financial-institute#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2024\/05\/sm_1716379400.920855.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-joins-debt-managing-financial-institute#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-joins-debt-managing-financial-institute\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-joins-debt-managing-financial-institute\",\"name\":\"South Sudan joins debt-managing financial institute - 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