Republic of South Sudan: Third Review Under the Staff-Monitored Program, Request for Disbursement Under the Rapid Credit Facility, and Program Monitoring with Board Involvement-Press Release; and Staff Report
IMF Staff Country Reports, March 9, 2023
Source details
- Canonical URL
- Republic of South Sudan: Third Review Under the Staff-Monitored Program, Request for Disbursement Under the Rapid Credit Facility, and Program Monitoring with Board Involvement-Press Release; and Staff Report
Other formats
Bibliographic details
- Published: March 9, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400235696.002
Key findings and context
- About two-thirds of South Sudan’s population is experiencing severe food insecurity, the highest level since independence.
- Significant reforms have been introduced since the start of the SMP in March 2021, including:
- the unification of the official and parallel exchange rates;
- increased transparency of oil revenue and government operations.
- Authorities plan to channel part of the food stock window disbursement via the World Food Programme and International Organization of Migration, making use of their systems to provide immediate humanitarian assistance to address food insecurity.
Program requests and policy intentions
- Authorities have requested completion of the existing Staff-Monitored Program (SMP).
- Authorities have requested a new nine-month Staff Program Monitoring with Board Involvement to lay the ground for an eventual Extended Credit Facility.
- Objective of the requested programs: guide the reform agenda aimed at maintaining macroeconomic stability and debt sustainability and improving governance and transparency.
Operational and policy measures highlighted
- Exchange rate policy:
- Unification of the official and parallel exchange rates implemented since March 2021 (start of the SMP).
- Fiscal and transparency measures:
- Increased transparency of oil revenue and government operations.
- Humanitarian delivery mechanism:
- Use of World Food Programme and International Organization of Migration systems to deliver part of the food stock window disbursement for immediate assistance.
Subject areas and keywords (as provided)
- Subject: Commodities, Debt sustainability analysis, External debt, Government debt management, International organization, Monetary base, Monetary policy, Money, Oil, Public debt, Public financial management (PFM)
- Keywords: authorities' effort, customs administration reform, Debt sustainability analysis, East Africa, FSW disbursement, Global, Government debt management, government operation, IMF team, Monetary base, Oil, reform gain, South Sudanese authorities, Southern Africa
Content in this bundle
- 1ssdea2023001