IMF Reviews Juba’s Readiness For New Financing by November 15

International Monetary Authority (IMF) is reviewing the preparedness of the South Sudanese government to benefit from a new financing plan ahead of the November 15 compliance deadline, highlighting the fund’s commitment to Juba’s economic, governance and political reform agenda.

The East African reports that an IMF team led by Mame Astou Diouf visited Juba from September 25 to October 2 to hold discussions with the authorities on the third review under the Staff-Monitored Programme with Board Involvement (PMB).

“The mission discussed performance towards the PMB quantitative targets at end-June 2024 and progress in implementing the structural benchmarks,” Ms Diouf said in a statement on Wednesday.

“Discussions to underpin the completion of the third review of the Staff-Monitored Program with Board Involvement will continue in the coming weeks.”

The PMB framework was developed by the IMF in 2022 to benefit countries that are subject of an ongoing concerted international effort by creditors or donors to provide substantial new financing or debt relief or have significant outstanding IMF credit under emergency financing instruments.

IMF staff monitored programmes are usually used when an IMF member country is not able to implement an IMF-supported programme.