Africa > South Sudan, Republic of

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International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper on Sudan provides a first stock-taking of the scale, main transmission channels and potential costs of poor governance and corruption in Sudan and offers preliminary recommendations. A large body of literature and country analyses confirm that weak governance and corruption undermine economic growth, amplify income inequality and erode public trust in the institutions. According to international agencies and existing literature, Sudan has scored very poorly on compliance with rule of law best practices in the past. Effective implementation of preventive measures is important; particularly in relation to politically exposed persons. Transparency on beneficial ownership of legal persons and arrangements to prevent their misuse for laundering the proceeds of corruption are necessary. Transparency, accountability, and comprehensive communication should be the backbone of governance and anti-corruption reforms in each sector. Rationalizing tax exemptions and phasing out tax holidays would strengthen governance while boosting fiscal revenues.
International Monetary Fund. Legal Dept., International Monetary Fund. Monetary and Capital Markets Department, International Monetary Fund. Strategy, Policy, &, Review Department, and International Monetary Fund. Research Dept.
This paper reviews the Fund’s policy on multiple currency practices (MCPs). There remain strong economic and legal reasons to retain a policy on MCPs. The over-arching aim of the review is to make the policy and its application more effective. Based on this review, the paper proposes initial considerations for reforming features of the policy that have created challenges. • Clarifying the concept of “official action” to focus on measures that segment FX markets. • Eliminating potentiality. • Updating the threshold for permissible FX spreads. • Adjusting approval policies. • Reviewing links with capital transactions. • Considering merits of a remedial framework.
International Monetary Fund. Fiscal Affairs Dept.
This report reviews the IMF’s effort to build fiscal capacity in fragile states. It presents case studies on IMF technical assistance (TA) and capacity development in the fiscal area, provided by its Fiscal Affairs Department in collaboration with the Legal Department, in countries including Afghanistan, Haiti, Kosovo, Liberia, Mali, Myanmar, South Sudan, and Timor-Leste. The details in the case studies in various areas of fiscal policy management shed light on country-specific characteristics, how well IMF TA helped countries address fiscal capacity in the past, and lessons learned that could improve TA strategies and delivery in the future.
International Monetary Fund
The paper draws on recent country experience to describe the approach to designing and implementing fiscal reforms in fragile states (FS) taken in the IMF’s technical assistance (TA). In doing so, it highlights how the TA that the IMF provides to FS differs from that of non-FS, describes the trends in and modalities of TA delivery, and draws on recent experiences to derive lessons for future work.
International Monetary Fund
In March 2009 the Fund established a new Framework Administered Account to administer external financial resources for Selected Fund Activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of subaccounts within the SFA. This paper requests Executive Board approval to establish the Financial Access Survey Subaccount (“the Subaccount”) under the terms of the SFA Instrument.
International Monetary Fund
In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for selected Fund activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. This paper requests Executive Board approval to establish the Africa Regional Technical Assistance Center West 2 (AFRITAC West 2) Subaccount (the “AFRITAC West 2 Subaccount” or the “Subaccount”) under the terms of the SFA Instrument.
International Monetary Fund
In March 2009, the Fund adopted the Instrument to establish a new Framework Administered Account to administer external financial resources for Selected Fund Activities (the “SFA Instrument”).1 The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of subaccounts. This paper requests Executive Board approval to establish the Government of Australia Subaccount for Selected Fund Activities (the “Subaccount”) under the terms of the SFA Instrument.
International Monetary Fund
In March 2009, the Fund established a new Framework Administered Account to administer external financial resources for Selected Fund Activities (the “SFA Instrument”). The financing of activities under the terms of the SFA Instrument is implemented through the establishment and operation of a subaccount within the SFA. This paper requests Executive Board approval to establish the Republic of South Sudan Macroeconomic Capacity Building Subaccount (the “Subaccount”) under the terms of the SFA Instrument.
International Monetary Fund
Economic growth is estimated to have moderated further in 2010 to about 5 percent, reflecting slower growth in both the oil and non-oil sectors. The overall commitment fiscal deficit for 2010 is now estimated at 2.7 percent of GDP, about 0.6 percentage point of GDP below the program target. Monetary policy was expansionary in the first half of 2010, but was subsequently tightened. The current account deficit narrowed during the first three quarters of 2010 largely driven by an increase in oil exports.
International Monetary Fund
Sudan’s 2006 Article IV Consultation reports that growth has been robust, inflation has been kept at a single-digit level, and important reforms have been undertaken. There has been progress with financial sector reforms and trade liberalization, and the managed floating exchange rate regime has been working well. Despite an increase in oil revenues, the fiscal space of the central government will be constrained because of the transfers required by the peace agreement and decentralization.