The Bank represents South Sudan in all intergovernmental meetings, councils and organizations concerning monetary policy, regulation and supervision of banks and other persons subjected by law to its oversight, and the other matters that are within its competence.
The primary objective of the Bank of South Sudan monetary policy is to achieve price and financial stability. Secondary objectives include ensuring that real output specified by the Ministry of finance is achieved, ensuring that reserves of the Bank of South Sudan are built.
Monetary Policy Framework
In December 2017, the Bank of South Sudan reformed its monetary policy framework to meet the challenges facing the country. It abandoned the fixed exchange rate regime that was operational since independence (July 2011) and adopted floating exchange rate regime in December 15th 2015.
Towards the end of the fourth quarter of 2017, the Bank of South Sudan adopted the reserve money targeting framework (RMTF) in an effort to ensure proper macroeconomic management in the country. The Monetary Targeting Regime (MTR) among other regimes is relatively easy to formulate and implement and is believed to yield results quickly. It intensively uses monetary data which is reliable and easily available to Monetary Policy committee to guide the setting of monetary aggregate targets and help in execution of Monetary Policy strategies.
Monetary policy Statement
The Bank of South Sudan produce monetary policy statement twice a year. Normally at the end of the year (December) to provide direction of monetary policy stance for the next six months and the second statement is produced on June the cover the remaining months of the year. It summarizes achievements and challenges encountered at the last periods and provide way forward for the medium and long run.