IMF Staff Country Reports

Republic of South Sudan: 2023 Article IV Consultation, and First and Second Reviews under the Staff-Monitored Program with Board Involvement-Press Release; Staff Report; and Statement by the Executive Director for Republic of South Sudan

June 10, 2024

Download PDF More Formats on IMF eLibrary Order a Print Copy
More formats on IMF eLibrary Order a Print Copy

Preview Citation

Format: Chicago

International Monetary Fund. African Dept. "Republic of South Sudan: 2023 Article IV Consultation, and First and Second Reviews under the Staff-Monitored Program with Board Involvement-Press Release; Staff Report; and Statement by the Executive Director for Republic of South Sudan", IMF Staff Country Reports 2024, 160 (2024), accessed December 21, 2024, https://doi.org/10.5089/9798400279096.002

Export Citation

  • ProCite
  • RefWorks
  • Reference Manager
  • BibTex
  • Zotero
  • EndNote

Summary

This paper presents Republic of South Sudan’s 2023 Article IV Consultation, and First and Second Reviews under the Staff-Monitored Program with Board Involvement (PMB). South Sudan is significantly impacted by the war in Sudan, especially from a very large and growing number of refugees, and by a sharp decline in oil production and exports since mid-February 2024 due to damages to the oil pipeline. Article IV discussions focused on putting economic reforms on a sustainable footing, boosting domestic revenue mobilization, enhancing social spending, and implementing governance and transparency reforms to reduce corruption. The extension of the PMB provides time to the authorities to implement corrective actions to bring macroeconomic policies back on track and implement governance reforms; building a strong track record is essential for any financial arrangement with the IMF. In order to help address these challenges, as well as the fallout from the damage to the oil pipeline, the authorities have requested a 3-year arrangement under the Extended Credit Facility (ECF). Successful completion of the current PMB would help establish track record toward a potential ECF arrangement in the future.

Subject: Commodities, Debt sustainability analysis, Expenditure, External debt, International organization, Monetary policy, Oil, Oil, gas and mining taxes, Taxes

Keywords: Gas and mining taxes, Africa, Auction rate, Authorities endeavor, BSS staff, Debt sustainability analysis, FX auction, Global, Government program, Middle East, Oil, Oil, Sub-Saharan Africa

Publication Details

You May Also Be Interested In...

How Has Dollarization Served Timor-Leste So Far?

December 20, 2024

Chasing the Dream: Industry-Level Productivity Developments in Europe

December 20, 2024

A Confidence-Financial Inclusion Nexus in the Caucasus and Central Asia?

December 20, 2024

Ukraine: Sixth Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Modification of a Performance Criterion, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for Ukraine

December 20, 2024