South Sudan: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Sudan
IMF Staff Country Reports, March 23, 2017
Source details
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- South Sudan: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Sudan
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Bibliographic details
- Published: March 23, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475588538.002
Overview
- Rapid deterioration of economic conditions in South Sudan since the beginning of the civil conflict in late 2013.
- Real GDP growth declined by nearly 20 percent during 2015 and 2016.
- Annual inflation rose to about 550 percent in September 2016 before declining to 370 percent in January 2017.
- The medium-term outlook faces challenges and significant downside risks.
- Without significant progress toward peace and economic stabilization, the economic trajectory for South Sudan is highly unstable, and the country risks spiraling into a trap of deteriorating economic performance and worsening security with continued high humanitarian costs.
Key economic indicators (as reported)
- Real GDP growth: declined by nearly 20 percent during 2015 and 2016.
- Annual inflation: about 550 percent in September 2016; 370 percent in January 2017.
- Conflict onset referenced: late 2013.
Major themes and focal areas
- Commodities
- External debt
- Oil; Oil prices
- Prices
- Public debt
- Public financial management (PFM)
Medium-term outlook and risks
- Outlook characterized by significant downside risks.
- Stability contingent on "significant progress toward peace and economic stabilization."
- Potential adverse dynamic: spiraling into a trap of deteriorating economic performance and worsening security with continued high humanitarian costs.
Implications for policy and priorities
- Peace progress and economic stabilization are presented as prerequisites for improving the economic trajectory.
- Priority areas implied by subject tags include managing oil and oil prices, addressing external and public debt, restoring price stability, and strengthening public financial management.
Source: South Sudan: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for South Sudan (IMF, March 23, 2017).
Content in this bundle
- Country Report