{"id":7387,"date":"2022-01-10T09:47:15","date_gmt":"2022-01-10T09:47:15","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/us-britain-norway-welcome-south-sudan-economic-reforms"},"modified":"2022-01-10T12:36:09","modified_gmt":"2022-01-10T12:36:09","slug":"us-britain-norway-welcome-south-sudan-economic-reforms","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/us-britain-norway-welcome-south-sudan-economic-reforms","title":{"rendered":"US, Britain, Norway welcome South Sudan economic reforms"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>The United States of America, United Kingdom, and Norway (known as Troika together) have welcomed ongoing economic reforms by South Sudan\u2019s Revitalized Transitional Government of National Unity (R-TGONU), days after President Salva Kiir Mayardit replaced the governor of the country\u2019s central bank.<\/p>\n

In a statement below, the powerful South Sudan\u2019s friends said more \u2013 however \u2013 needs to be done. Below is the full-text statement of the Troika on the Public Financial Management Reforms in South Sudan.<\/p>\n

The recent important appointments related to South Sudan\u2019s economic management come at a critical time for the reform process, as South Sudan is preparing to exit an IMF Staff Monitored Program and hopes to access a new loan in coming months. The Troika underscores that a faster pace is needed in the implementation of Public Financial Management reforms. In this regard the Troika stresses the importance of continuing and further strengthening the current reforms, which will demonstrate the Government\u2019s commitment to the reform process and enhance trust with international partners.<\/p>\n

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 benefitted South Sudan\u2019s people through a more stable exchange rate and slower 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\u2019s commitments under the IMF Staff Monitored Program.<\/p>\n

The Troika stresses that continued respect for the moratorium on incurring new non-concessional debt, including not issuing letters of guarantee, will spare ordinary citizens the burden of higher taxes or reduced public spending in the future. The Troika further emphasizes that sound monetary policy is key to maintaining low inflation and a stable exchange rate, both of which will help shield the people of South Sudan 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 that a fully functional Cash Management Committee is key to sound spending in line with budgetary allocations.<\/p>\n

The Troika looks forward to providing continued support to the Government of South Sudan, including recent appointees, on enhancing transparency and accountability for the benefit of all South Sudanese. In achieving this we stress that fiscal data \u2013 including on oil and non-oil revenues \u2013 should be published on the Ministry of Finance and Planning website regularly and without delay. Information should also be made public on any outstanding balance owed to Sudan on the Transitional Financing Arrangement and on any debt Sudan may now owe South Sudan from the oil it receives in kind each day. The Troika anticipates a full and complete audit of the second tranche of the IMF RCF loan, as well as further progress on anti-money laundering reforms as per the FATF Action Plan.<\/p>\n

The South Sudanese economy remains fragile and the gains that have been made could quickly be reversed, at great cost to its people. The Troika reiterates its commitment to a peaceful and prosperous South Sudan, in which the population benefits from public services, underpinned by transparent and accountable public financial management. To that end, the Troika looks forward to working with the new appointees in advancing and deepening Public Financial Management reforms<\/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 United States of America, United Kingdom, and Norway (known as Troika together) have welcomed ongoing economic reforms by South Sudan\u2019s Revitalized Transitional Government of National Unity (R-TGONU), days after President Salva Kiir Mayardit replaced the governor of the country\u2019s central bank. In a statement below, the powerful South Sudan\u2019s friends said […]<\/p>\n","protected":false},"author":84,"featured_media":7386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[234,265,233],"class_list":["post-7387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nUS, Britain, Norway welcome South Sudan economic reforms - South Sudan<\/title>\n<meta name=\"description\" content=\"The United States of America, United Kingdom, and Norway (known as Troika together) have welcomed ongoing economic refor ...\" \/>\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\/us-britain-norway-welcome-south-sudan-economic-reforms\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US, Britain, Norway welcome South Sudan economic reforms\" \/>\n<meta property=\"og:description\" content=\"The United States of America, United Kingdom, and Norway (known as Troika together) have welcomed ongoing economic refor ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/us-britain-norway-welcome-south-sudan-economic-reforms\" \/>\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=\"2022-01-10T09:47:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-10T12:36:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2022\/01\/img-61dc2822a3fc1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1020\" \/>\n\t<meta property=\"og:image:height\" content=\"537\" \/>\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\/us-britain-norway-welcome-south-sudan-economic-reforms#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/us-britain-norway-welcome-south-sudan-economic-reforms\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"US, Britain, Norway welcome South Sudan economic reforms\",\"datePublished\":\"2022-01-10T09:47:15+00:00\",\"dateModified\":\"2022-01-10T12:36:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/us-britain-norway-welcome-south-sudan-economic-reforms\"},\"wordCount\":597,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/us-britain-norway-welcome-south-sudan-economic-reforms#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2022\/01\/img-61dc2822a3fc1.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/us-britain-norway-welcome-south-sudan-economic-reforms#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/us-britain-norway-welcome-south-sudan-economic-reforms\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/us-britain-norway-welcome-south-sudan-economic-reforms\",\"name\":\"US, Britain, Norway welcome South Sudan economic reforms - 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