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South Sudan’s accession to Micro-Economic and Finance Management Institute

South Sudan’s accession to Micro-Economic and Finance Management Institute

By Chance Baniko S. OUDU

The Ministry of Finance and the Bank of South Sudan (BoSS) have signed an MOU at the ministry with Macroeconomic and Financial Management Institute (MEFMI) on the accession of South Sudan as 15th member to the block.

BoSS Governor Hon. Dr. James Alic exchanging signed document with the Executive Secretary of MEFMI Louis Kesekende,in the presence of Deputy Minister of Finance and Planning Hon. Agok Makur

Speaking during the ceremony, BoSS Governor Hon. Dr. James Alic said that the engagement between the government and the institute started way back in 2012 in Morocco. The country stands to benefit from the institute in areas of debt recording, debt management amongst others.

BoSS governor said, “We shall do our best to catch up with the rest of the countries in the region. We are no more babies anymore.” The governor expressed optimism to the forth coming meeting and said as a country, “we need to have access to the market and develop bond market and financial markets amongst others.

The institute promised to train 13 cohorts who will become experts at home and in the region.

On the other hand, the Executive Secretary of MEFMI Louis Kesekende said his organization is thrilled to receive South Sudan as its 15th member, pointing out that he will work with the government of South Sudan on areas of capacity development to train cadres for the country.

“We have in country conferences as well as regional conferences and we are ready to respond to your needs. We have foundational and intermediate trainings as well as advanced trainings for the benefit of all member countries, he said.”

Closing the occasion, the Deputy Minister of Finance and Planning Hon. Agok Makur expressed his appreciation for the signing of the MOU and said that the government stands ready to fulfil its obligations. He pledged to pay the membership fee.

Earlier in the meeting held at BoSS premises Doctor Louis Austin Kesekende met and thanked Hon. Dr. James Alic for the warm welcome and the hospitality accorded to them by the bank since they arrived in Juba. He said the main objective of the visit was to strengthen and operationalize the relationship between South Sudan and MEFMI. He then touched on South Sudan membership to the block and said that it was approved in the last Board meeting of MEFMI. While the country has already paid its capital contribution, the membership fee remains unpaid. In this connection, he also encouraged the country to pay the membership fee as soon as possible to enable a speedy operationalization as South Sudan, which still lags behind can catch up.

He highlighted the need for South Sudan to nominate their representative to the Board of Governors of MEMFI, either from the Bank or the Ministry of Finance and Planning.

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