South Sudan joins regional macroeconomic management institute

JUBA – South Sudan on Tuesday officially joined the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI).

MEFMI is an intergovernmental organization specializing in training and capacity building programs for member countries in areas of macroeconomic and financial sector management.

South Sudan becomes the 15^th member of the regional institute.

The accession document was signed by South Sudan’s Governor of the Bank of South Sudan, Dr. James Alic Garang, and Dr. Louis Kasekende, Executive Director of MEFMI.

Agok Makur Kur, South Sudan’s Deputy Minister of Finance and Planning, highlighted the anticipated benefits of membership during the signing ceremony.

He emphasized the value of regional training in areas such as financial resource mobilization and institutional capacity building.

“We anticipate significant advantages from membership in regional training institutes. This includes training not just in debt management and macroeconomics, but also in resource mobilization,” Makur said.

“Africa has an abundance of resources that require proper utilization. Through MEFMI’s training and capacity-building programs, we can develop the skills necessary to effectively manage these resources,” he added.

Dr. Garang acknowledged MEFMI’s established expertise in Southern Africa and expressed South Sudan’s commitment to catching up.

“We are joining an institute with a proven track record in Southern Africa. While we may be a newer member, we are not a new nation,” he said.

“We are confident in our ability to learn quickly and contribute to the organization. We are ready to work hard and pick up where others have left off,” he added.

Dr. Louis Austin Kasekende, Executive Director of MEFMI, outlined the range of training programs offered by the institute.

These include foundation courses, intermediate training, and advanced courses tailored to the specific needs of member countries.

“We recognize that member countries have varying levels of expertise. “We offer a range of programs to cater to these differing needs,” he said.

“Foundation courses are available for those requiring a basic understanding, while intermediate and advanced courses are available for those seeking to upskill or specialize,” he added.

MEFMI was established in 1994 under the name Eastern and Southern Africa Initiative in Debt and Reserves Management.

It was later renamed the Macroeconomic and Fiscal Management Institute of Eastern and Southern Africa in 1997.