JUBA - 9 Mar 2016

JMEC chairman says South Sudan needs economic solutions “from within”

The Chairman of the Joint Monitoring and Evaluation Commission (JMEC) Festus Mogae says that South Sudan needs to undertake economic reforms on its own and not expect salvation from outside donors or partners.

In written remarks prepared for the JMEC meeting today, Mogae pointed out that the economic situation in the country is deteriorating, saying that this will hurt the poor the most.

He cautioned, “The idea that world powers will restore this country’s economy to what it once was, is unrealistic. Oil prices may rise, or they may not. Irrespective of whether they do or not, this cannot be counted on. Solutions must be found from within.”

Mogae then referred to the parts of the August 2015 peace agreement that deal with economic reforms, pointing out that these require the formation of the Transitional Government of National Unity .

“But formation of the government will itself be insufficient to ensure international economic assistance. Help will be dependent on the competence of those who are appointed to key economic management positions, on the degree of adherence to the agreement’s provisions, and the seriousness with which appropriate economic policies and necessary reforms are pursued,” he said.

The JMEC chairman then suggested that the parties discuss today steps that they could take immediately to help the economy. “Since the Transitional Government is not yet formed, I would encourage the Parties represented here to consider what action can be taken immediately, today, as well as what action can be immediately taken upon formation of the Transitional Government.”

“In the matter of economic reform, the timelines in the Agreement may have been overtaken by events. The urgency of the situation requires further cooperation, and, as with the humanitarian dimension, practical and decisive action. JMEC is willing to assist the Parties in whatever way it can to consider what steps could be taken to mitigate further economic decline,” said Mogae.