{"id":64475,"date":"2024-08-28T08:02:00","date_gmt":"2024-08-28T08:02:00","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/parliament-tells-finance-minister-to-table-all-loans-for-approval"},"modified":"2024-08-28T08:02:00","modified_gmt":"2024-08-28T08:02:00","slug":"parliament-tells-finance-minister-to-table-all-loans-for-approval","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/parliament-tells-finance-minister-to-table-all-loans-for-approval","title":{"rendered":"Parliament tells Finance minister to table all loans for approval"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>The Transitional National Legislative Assembly (TNLA) on Tuesday directed the Ministry of Finance and Planning to table any loan to be borrowed for approval.<\/p>\n

Addressing legislators during a report on the Transitional State Forum, the Chairperson of the Public Account Committee, Justin Joseph Marona, said that would restore trust in the country\u2019s debt management system.<\/p>\n

\u201cIt directs the Ministry of Finance and Planning to allow loans at national and sub-national levels to be tabled and approved by parliament in accordance with provisions of Public Financial Management and Accountability Act, 2011,\u201d said Marona,<\/p>\n

\u201cThis way, the lenders may restore legal trust on our debt management system and credibility on the country\u2019s Personal Financial Management reform trend,\u201d he added.<\/p>\n

The Chairperson of the Parliamentary Committee for Information and Communication, Oliver Benjamin Mori, said parliament discovered that most loans were not effectively utilized.<\/p>\n

\u201cBut in most cases, these loans are not effectively utilized for the intended purpose. Instead of making investments, these loans are consumed, maybe for salaries or other unnecessary services,\u201d Mori said.<\/p>\n

South Sudan is at high risk of debt distress, with the debt-to-GDP ratio estimated at 34.5% in 2023, according to a new report of the African Development Bank Group (AfDB).<\/p>\n

The current account balance improved to a surplus of 7.0% of GDP in 2022\/23, due to a gradual uptick in oil export revenues, it said.<\/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. The Transitional National Legislative Assembly (TNLA) on Tuesday directed the Ministry of Finance and Planning to table any loan to be borrowed for approval. Addressing legislators during a report on the Transitional State Forum, the Chairperson of the Public Account Committee, Justin Joseph Marona, said that would restore trust in the country\u2019s […]<\/p>\n","protected":false},"author":84,"featured_media":64474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-64475","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":"\nParliament tells Finance minister to table all loans for approval - South Sudan<\/title>\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\/parliament-tells-finance-minister-to-table-all-loans-for-approval\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parliament tells Finance minister to table all loans for approval\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – South-Sudan. The Transitional National Legislative Assembly (TNLA) on Tuesday directed the Ministry of Finance and Planning to table any loan to be borrowed for approval. 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