By Lodu William Odiya
The Minister of Finance, Bak Barnaba Chol Bak has unveiled a new reform strategy aimed at deepening economic cooperation and improving public financial management (PFM) across the country.
According to statement issued by the Ministry of information Department of communication yesterday, the remark comes after meeting with the United Kingdom’s Ambassador, David Ashley.
“Our discussion covered key areas of partnership, including the Public Financial Management reforms, resumption of PFM Oversight Committee meetings, revenue improvement, agriculture, and the continuation of development projects we began in my previous tenure” he said.
According to the Minister, the reform strategy focuses on improving revenue collection, enhancing transparency in government spending, and boosting investor confidence.
Stakeholders in the financial sector have cautiously welcomed the announcement, saying consistent implementation will be crucial for success.
Civil society groups have also urged the ministry to ensure that the reforms promote accountability and benefit citizens at all levels.
The government is expected to roll out the first phase of the strategy in the coming months, with progress reports to be shared regularly to maintain public trust and ensure transparency.
Barnaba underscored working with partners, his Ministry will continue building a stable and productive economy for the people.
“I reaffirmed my commitment to strengthening our institutions, improving transparency, and advancing the economic priorities that will move South Sudan forward” he said.
The South Sudan Ministry of Finance and Planning is currently facing financial challenges, particularly due to the post-civil war remaining fragile.
The ministry is grappling with the need to prepare realistic budgets and enforce discipled budget execution, which has led to severe cash shortage and cash rationing.