19/02/2024
Response to critics of reforms initiated by Hon.Dr. Bak Barnaba Chol, the National Minister of Finance and Planning.
By Marco M
In the waves of these world economic crisis and threats posed by the environmental degradations and wars across continents, many countries are acutely faced by the challenges stemming from wars , conflicts and nature that created blockage to the growth of economies. The governments of the day struggle to recover their economic strengths through formulation of policies that are directed to adjust the economies and recovery plan and meet the needs of the people. For instance, in 1920s, Germany was onced hit by severe inflation , however after its government employed reforms in economic institutions, Germany now shines among the super-power countries.
South Sudan, like other countries in the world, faces numerous challenges to recover her economic strength which had been disrupted by stoppage of the oil flow in 2012, and again plunged into conflict in 2013, floodings and droughts in some parts of the country, hindering substinence and gave rise to the cost of living.
The current inflation shock in South Sudan represents the reaction of consequences of the wars, conflicts and climate changes ,leading to scrambling over scarce resources and eventually gives rise to the inflation, particularly the foreign exchange and devaluation of the country currency ( SSP). Nevertheless, the Central Bank of South Sudan is putting measures to reduce the inflation rate and create value to the country currency. The measures included the re-organization of the foreign exchange market to tame the parallel market ( black market ) as potential risks for demands of foreign currencies are mitigated.
The war in Sudan also added challenges to flow of oil which is a main backbone of South Sudan's Economy, while influx of the returnees and refugees from Sudan create a gap in humanitarian support , in which the government of South Sudan has obligations to support the people displaced by the war in Sudan. This increases the spending of the government.
The government under the wise leadership of H.E Gen.Salva Kiir Mayardit , is exerting efforts to restore back the economic strength of South Sudan through reforms in various sectors in the country and realization of peace and stability.
The decision of H.E Gen.Salva Kiir Mayardit, the President of the Republic to appoint Hon.Dr.Bak Barnaba Chol as a Minister of Finance and Planning , was indeed a starting point of reform programmes in Finance sector in the country.
Hence , reforms in economic sector are paramount to improve the economy and reduce the high cost of living .
Reforms are desired, yet they are processes revolving around many sectors for purposes of reshaping the economy and strengthening its position through stabilization of values, being domestic or foreign and create environment conducive for investment.
It is crucial that, the critics understand the works of reform are gradual and processes, takes many steps and time resources to come to light. Reforms are works of any responsible government to improve the economy , either by reducing spending of the government or expanding the sources of revenue to adequately fund the projects.
After having followed and critically analyzed voices of critics of reforms initiated by Hon.Dr.Bak Barnaba, National Minister of Finance and Planning, it is proven that their allegations labelled against Hon.Minister and his team ,are baseless and do not hold water to base a judgement. Such criticisms that do not provide room of solutions or alternatives for judgement or for decision-making, are aimed at only tarnishing the government shape through character assassinations of people who are so much dedicated and diligently serving the nation.
The character assassination projects orchestrated by sponsors who masked their faces in and outside the parameters of the government, intend to divert public attention on reform programmes to economic recovery. The also foreign- funded critics are rolling these character assassination projects to fit themselves as replacements through intensifying their lobbying games and falsifications, not as reformists, nor nationalists, but politicians who wish to fill their guts.
Since the appointment of Hon.Dr.Bak Barnaba Chol, National Minister of Finance and Planning, the Minister has been working tirelessly to reform and create trusted public financial management.
Hon.Dr. Bak Barnaba made significant changes in the sector by introducing policies that eliminate rampant corruption exercises and mal-practices that contravene public financial management.
His efforts of reforms include the elimination of ghost names which were spread in pay-sheets of civil servants, army and other organized forces.
These ghost names were a heavy load placed on the shoulders of the government to pay those who did not exist and work for the government, are now erased off to reduce the load of salary payment.
The biometric financial ID card will be issued to all employees of the government to ease the payment procedures and create convenient public financial management across institutions. It is important to note that, creating a convenient payment system is healthier for the effective operation of the government.
Other reform programmes of Hon.Dr.Bak Barnaba in finance sector include, diversification of the economy through agricultural activities to lessen dependence on oil revenues.
The efforts of Economist Dr. Bak Barnaba and his team in bringing about changes in the sector by engaging partners to aid in agricultural activities, are to ensure that the food security is a necessity to people of South Sudan.The plans and works of the government to expand the agricultural activities will boost the economy and encourage investment opportunities in the country as well as job opportunities to benefit the young energies of South Sudanese.
The plan to produce surplus food will decrease the imports of food commodities from neighboring countries which are purchased using the hard-currencies, this effort will create trust and value to our country currency ( South Sudanese Pound) as the local market is boosted up.
On the diversification of the economy, the Hon.Minister of Finance , Dr.Bak Barnaba Chol is also working hard on the Non-Oil Revenue Collections through institutions of National Revenues Authority to have efficient mechanisms of Non-oil revenues to boost the economy. The aim is to generate sufficient Non-oil revenues( taxes) so as the developmental projects, operations such as payment of the salaries to government employees are timely mannered , without delays.
In conclusion, these reform programmes are in the best interest of South Sudan to have sustainable economic strengths.
Let's embrace the reforms initiated by an Economist Dr.Bak Barnaba Chol, the National Minister of Finance and Planning and his team to regain South Sudan's economic strength and move the country forwards for development under wise leadership of H.E Gen.Salva Kiir Mayardit , the President of the Republic of South Sudan.
A writer is a concerned South Sudanese.
