![Executive Director of the Center for Peace and Advocacy (CPA) Ter Manyang Gatwech. [Photo courtesy]](https://i0.wp.com/www.sudanspost.com/wp-content/uploads/2022/02/Ter-Manyang-photo.jpg?quality=89&ssl=1)
The call by the Juba-based Center for Peace and Advocacy (CPA) comes just weeks after South Sudan signed a $43.7 million tripartite agreement with the African Development Bank (AfDB) to enhance private sector enterprise.
CPA’s Executive Director, Ter Manyang Gatwech said the grant should be implemented to fulfill need of the targeted beneficiaries.
“The only way South Sudan can recuperate its economy is to put in place strong systems that will ensure a prudent, transparent and accountable management of national wealth and resources,” he said.
Gatwech stressed the importance of promoting citizens’ welfare.
Last month, Troika member states called for expedition in the implementation of public financial management reforms in South Sudan, saying strengthening of such reforms demonstrate government’s commitment to reform process and enhance trust with global partners.
South Sudan made significant progress on public financial management reforms, including prudent monetary policy, successful foreign exchange reform and steps towards sounder public cash management.
These steps, according to the Troika, have already benefitted South Sudan’s people through a more stable exchange rate and slower inflation.
Gatwech urged the government and those now charged with leading economic recovery to continue such reforms, in line with the September 2018 peace agreement and South Sudan’s commitments under the International Monetary Fund (IMF) staff monitored program.
“A sound monetary policy is key to maintaining low inflation and a stable exchange rate, both of which will help shield the people of South Sudan from rising prices: this means that the Bank of South Sudan must refrain from any monetary financing of the budget deficit,” he stressed.
Oil revenues constitute more than 98% South Sudan’s annual budget.
