S. Sudan does not keep oil revenues in central bank: report
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August 30, 2017 (JUBA) - South Sudan government does not keep revenues
acquired from the sale of its oil resources in the country’s Central
Bank, a new parliamentary committee report has shown.
This revelation shocked members of parliament and the general public.
“We were surprised as the leadership of parliamentary committee
responsible for finance and economic planning when we carried out the
research. We found out the revenues accruing from oil are not
deposited into the Bank of South Sudan”, a lawmaker, who preferred
anonymity, told Sudan Tribune on Wednesday.
“This means there is nothing being kept by the central bank and it has
no use. What we were made to understand is that the central bank keeps
only the local pound and may be some funds from international
organizations and banks. It is an unusual situation world over. The
bank literally has no reserves as I talk to you. It is empty. Whatever
was there before the war has been depleted”, he added.
Another equally shocked lawmaker said the parliamentary committee had,
during the last budget debate, recommended coordination between the
ministry of finance and the Central Bank.
“What was discovered by the committee to the surprise of the house is
contrary to usual custom where the Central Bank is the custodian of
the government money.
This, in consequence, has deprived the Central Bank of hard currency
inflows, despite the memorandum of understanding signed between the
Ministry of Finance and Planning and Bank of South Sudan on the
custody of all foreign currencies in the country,” the lawmaker
separately told Sudan Tribune.
“The committee directs the ministry of finance to respect the content
of the memorandum of understanding” he further observed.
The committee, the legislator said, invited the Governor of the Bank
of South Sudan (BSS) and his technocrats on Thursday 17, August 2017
to come and explain the monetary policies of South Sudan.
“This is because any economic stabilization policy requires the
harmonization of fiscal and monetary policies to create the necessary
synergy for reversing inflation, exchange rate and unemployment,”
explained the lawmaker.
He, however, disclosed that during discussions with members of the
Central Bank, the committee learned that the finance ministry prepared
the FY 2017/18 budget minus involving Central Bank staffs.
“We have reason to believe that this practice hinders the
harmonization of fiscal and monitory policy necessary to control
inflation, prices and exchange rates. The Committee, therefore,
directs that the Ministry of Finance and BSS coordinate all the
Budgeting process together as a matter of law and practice”, the
committee note in an explanatory note,” he further stated.
South Sudan, heavily reliant on oil revenues to fund its budget, is
one of poorest countries in the world with worst indicators on
development, health and education.
The East African nation is experiencing high inflation, with severe
fuel shortages, consumers queuing for hours outside fuel stations and
often paying way over the new prices for black-market products.
The conflict, which broke out in 2013, has negatively impacted on the
country’s citizens, including pushing the country to the brink of
famine with 5.8 million people, almost half of the population—in
desperate need of humanitarian assistance, according to a United
Nations assessment report.
Observers say despite being oil-rich, South Sudan is likely to record
negative Gross Domestic Product (GDP) growth in 2017 after growing by
30.7% two years ago, largely due to the conflict, declines in its oil
production and global fall in oil prices.
(ST)
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31 August 07:10, by Rumbek S. Sudan
This is a shock to the whole nation, not only to some members of
parliament. This means the parliamentary committee on Finance knows
this. Where is the zero tolerance on corruption which Mr. President
has been talking about? Salva Kiir, you are shame to this country!!!
May all innocent blood shed and the suffering of all South Sudanese be
on your neck!!!
repondre message
31 August 08:09, by Kuch
Rumbek S. Sudan,
Don’t you fellows just take the polemic lies often posted by
foreign online tabloids like SUDAN TRIBUNE & RADIO TAMZUJ & Other
foreign propagandists on face value. SUDAN TRIBUNE & RADIO TAMZUJ &
Other foreign propagandists are out in force in the destruction of our
country & our people fellows. SUDAN TRIBUNE is edited in France by our
cloned arab North Sudanese criminal fellows>>>
repondre message
31 August 08:16, by Kuch
These foreign criminals have realized that their Riek
Machar puppet/stooge aimless armed rebellion to destroy our country
has been squashed. And so they are just throw every slime at their
disposal at the government of South Sudan to enrage the South Sudanese
people towards the government & to cause yet another problem in our
country. Remember fellows, we have not got rid of our evil cloned
arabs>
repondre message
31 August 08:23, by Kuch
of North Sudan on our back fellows. Divide & conquer
is how these cloned arabs of North Sudan happened to wedge their evil
feet into our country & it has now becomes our biggest nightmare to
push the evils back to Saudi Arabia & Yemen where the evils hailed
from. They always take advantage our people useless & trivial tribal
wars And some our of Nuers, Shilluks, Fertits & some Equatorians>>>
repondre message
31 August 08:32, by Kuch
have always been their allies in their ’divide &
conquer’ game in our country. Remember fellows, during our genuine war
of independence, the same some of our Nuers, Fertits, some Shilluks &
some Equatorians they have been using in their recently crushed
aimless armed rebellion were the same idiots they used to bully the
SPLA? Fellows, we have a lot of enemies who want destroy our
country>>>
repondre message
31 August 08:38, by Kuch
at all costs like Eastern Congo, car, Libya,
Yemen, Syria, Afghanistan or Ukraine and then the hyenas can then
plunder our country just they are now currently doing in the countries
that l have just mentioned above. Many of our people just don’t to
want understand the sinister project being played around in our
country & against our people by our enemies but they will understand
some of these days
repondre message
31 August 08:46, by Kuch
>>>do you fellows know the reason why no
one talks about the massive problems in Congo, Nigeria, Darfur,
Eastern Sudan, Southern Khordupan, Southern Blue Nile, Libya,
ethiopia, Somalia, Kenya and other countries; but our country & our
people are the ones whose these foreign criminals love about all the
times. The reason is because our country is being Geo-politically
football played around by our>
repondre message
31 August 08:53, by Kuch
enemies just like what they did during
their cold war in 1960s-1991 in countries like Congo, Angola,
Mozambique, ethiopia, Algeria, Cuba, South America, Eastern Europe,
Vietnam, Loas et al. And they hope our country can be re-united with
our cloned arab North Sudan just like they did with their ’East and
West Germany’. Some that is not going to happen under the sun as far
as we are concerned>>>
repondre message
31 August 08:59, by Kuch
Fellows, l always posted on this
web site that the US, the UK, their UN, their NGOs & some of their
allies in between love affair with our country & our people has gone
too far. And we are going to a full stop to it. The evils do not know
the level of hatred we have towards the cloned so-called arabs of
North Sudan is ingrained in our DNAs. The criminals in the US, the UK,
their UN, NGOs & some>>>
repondre message
31 August 09:06, by Kuch
of their criminals in between
do not know that here in Sudan, we have never ever been a fan of any
evil on earth who thinks he/she can breath over our necks. We keep
informing some of our Nuers & some Equatorians to open their damned
eyes & let us face our external existential enemies first. Fellows,
WW3 is going to start here in our country fellows. The evil corporate
America, the UK, their UN>>>
repondre message
31 August 09:11, by Kuch
their NGOs & some of their
evil allies in between have pushed our country & our people against
the wall too far. And we are going to bomb their damn UN, UNIMISS &
everything that is connected to evil white Americans, English people,
their evil juus, their cloned so-called arabs of North Sudan out of
our country. Who says we want these evils in our country? Who really
says?
repondre message
31 August 09:16, by Kuch
Fellows, any South
Sudanese who loves South Sudan, must sharpen their spears & replenish
their arrows, because what the evil corporate America, the UK, their
UN, their sleazy NGOs, their cloned so-called arabs of North Sudan &
some of their creepy allies in between are desperately after in our
country & our people is not going to end very well fellows>>>
repondre message
31 August 09:22, by Kuch
the US, the UK,
their UN, their NGOs & some of their creepy allies in between want
colonize our country & us on their *surreptitious & disguise* of their
damn UN, humanitarian aid, peacekeeping, donations & human rights
business scams and some of Nuers & some Equatorians are not reading in
between the lines this dirty project being played around in our
country & against our people>>>
repondre message
31 August 09:29, by Kuch
Fellows, here
in the Dinka/jieng men country, we will never ever allow the evil
corporate, the UK, their UN, their sleazy NGOs, their cloned so-called
arabs of North Sudan & some creepy allies in between usual dirty
intrigues in our country. We keep informing the evils(the US, the UK,
the UN, NGOs & their creepy allies in between) that their usual>>>
repondre message
31 August
09:32, by Kuch
regime
change business often works for them in Middle Eastern countries,
Central African countries or South American countries, but here in
South Sudan that is not going to happen under the sun. Fellows, watch
this space.
repondre message
31 August 07:36, by Agany Malim
Mps work was suized by JCE for all what they said is what the
president do. Now there is no point of arguement bcoz it is what
happened but the bad part is issue of taking it as rulers and not
individual missmanagement of money in the country. Again the civil
servant were not paid for five months which would be a point of saying
that what found is waste on payment of salaries
repondre message
31 August 08:00, by Agany Malim
Corruption reached the peg point the country under leadership of
Kiir and Taban so what remain for them is to sell ss to western world
but we cannot tolerate that one. Again the well wish vision of splm is
lost in such maner
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