South Sudan : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Sudan

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

March 23, 2017

Electronic Access:

Download PDF. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

South Sudan has suffered civil conflict, political instability and external shocks in the past three years. A steep decline in oil production and a sharp drop in oil prices have caused large shortfalls in foreign exchange receipts and government revenue. Continued high government spending led to massive fiscal deficits that were either monetized or financed through accumulation of arrears. The country is in a deep economic crisis with annual inflation peaking at 550 percent in September 2016 and a precipitous currency depreciation. Gross international reserves have dropped to about one week of import cover. A relapse of violence in July 2016 following the formation of the Transitional Government of National Unity three months earlier compounded the already existing humanitarian crisis and derailed the peace process. The hope is that the country charts a new course toward a broad-based and inclusive political process and economic development.

Series:

Country Report No. 17/73

Subject:

English

Publication Date:

March 23, 2017

ISBN/ISSN:

9781475588538/1934-7685

Stock No:

1SSDEA2017001

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

82

Please address any questions about this title to publications@imf.org