By Matik Kueth
President Salva Kiir Mayardit convened a high-level consultative meeting on Wednesday with top leaders of the key economic institutions to address South Sudan’s pressing economic challenges and chart a path toward stability and growth.
The meeting included First Vice President Dr. Benjamin Bol Mel, head of the Economic Cluster, Finance Minister Athian Ding Athian, and Bank of South Sudan Governor, Dr. Addis Ababa Othow.
In a statement from the office of the president, the leaders focused on strategies to revive the economy, reinforce fiscal and monetary reforms, and prepare for the upcoming International Monetary Fund (IMF) and World Bank Annual Meetings, where South Sudan will seek international support.
The leaders also emphasized their commitment to implementing sound economic policies, enhancing national resilience, and presenting a unified approach to engagement with global financial institutions.
South Sudan’s economy has faced immense strain since independence in 2011, even worst after the December 2013 and 2016 civil wars between Dr. Riek Machar and President Salva Kiir resulting from political rivalry. The Years of conflict disrupted oil production which is the the country’s main source of revenue leading to a sharp decline in government earnings. This, coupled with global oil price volatility, has left the economy vulnerable and overdependent on a single sector.
Inflation has soared in recent years, with the South Sudanese Pound losing significant value against foreign currencies, pushing up the cost of basic goods and services. Ordinary citizens continue to struggle with high food prices, limited access to jobs, and weak purchasing power, deepening widespread poverty. Nowadays, the South Sudan Pounds is in limited supply making government unable to pay civil servants. Banks limit the amount of South Sudanese pounds a client can withdraw.
Also, limited infrastructure, corruption, and reduced investor confidence have slowed down private sector development. Humanitarian needs remain high, with more than half of the population depending on aid. The government’s challenge has been to balance short-term relief with long-term reforms, particularly in diversifying the economy beyond oil, strengthening public financial management, and building institutions capable of supporting sustainable growth.
The meeting at State House underscored the government’s determination to restore economic stability, enhance investor confidence, and foster sustainable growth for all South Sudanese citizens. Leaders stressed that South Sudan’s engagement with the IMF and World Bank will be crucial in securing technical and financial support to stabilize the economy and lay a foundation for future development.