Many economists argue that a healthy economy promotes education and healthcare and, more importantly, increases a country’s population’s standard of living. However, that is not the case in South Sudan. The South Sudan central bank, the sanctuary reservoir of the nation, has been run by incompetent ministerial professionals who issue money out illegally to persons of interest, leaving the bank empty or with little money that does not cover government payments for exchange in an unregulated market they call black market in Juba—ensuring they want to make more money illegally. Undeniably, such activities have made South Sudan’s economy one of the world’s poorest.

South Sudan lacks robust financial laws that can hold one accountable for such activities that have plagued the economy since South Sudan gained its independence from Sudan on July 9, 2011. The South Sudan President, Salva Kiir Mayardit, has been issuing many uncountable decrees replacing after replacing, and there has been no glimpse of improvements in the financial sectors in South Sudan. Recently, the President appointed a new minister, Dr. Barnaba Bak Chol, to be the minister of finance and economic planning for the Ministry of Finance and Economic Planning (MOFEP) for South Sudan.

But the behaviors of these professionals create poor economic viability that leads to delays of salaries for various employees and constraints on funding for education, health and many other credible organizations. More broadly, economics and financial management reduce unnecessary spending that discourages corruption, money laundering hubs and other illegal financial activities that disobey and destroy the well-being and healthy of the economy in any country in the world. Today, many people exchange money on the streets across the Juba metropolitan area without regulatory laws intimidating them. Unlawful individuals are given money to perform illegal exchanges instigating economic danger, and such activities have become usual, which is disgusting to the economic systems in South Sudan.

Many people with no financial management signed business contracts to receive money to construct roads, bridges, and other vital projects, with the central bank but failed to complete construction. Practically, such behaviors result in severe corruption. Without a sustainable economy, education and health are in bad shape; therefore, education and health care are poor in South Sudan. The exchange rates have worsened as the South Sudanese pound depreciated to the lowest against the dollar. The purchasing power is low as many people cannot afford food and other human needs in South Sudan. These economic hardships are often tied to deprived financial management and the financial industry’s lack of professional knowledge and skills.

The International Monetary Fund states, “While still needs to be done, South Sudan is starting to reap the rewards of reform such as basic revenue administration and infrastructure have been set up, tax and customs law and regulations have been enacted, the institution of tax registration have put in place, collection enforcement and taxpayers’ audits have established, and basic technology has been implemented including high per capita computers for the revenue administration.” However, there has been no improvement because people do not respect or trust their systems. As a result, people become more corrupt to the point they cannot think about what it takes to run a country.

More broadly, a country is run with money; without money, the country will collapse instantly without notice. With that being said, there is a need to form initiative programs that can deliver vocational and technical training to employees in all the ministries in South Sudan. These initiative programs should be coordinated and monitored by well-recognized organizations with the permission of the South Sudan government. These initiative programs begin recruiting South Sudanese people who received education abroad. Thousands of South Sudanese people live abroad and receive rich education, knowledge and skills that can be used for nation-building.

On the other hand, another policy option required in this situation is that the South Sudan government can sign an education contract specifically for well-educated South Sudanese people from the United States to be trained in various capacities to stand as backup strategic plans B for high positions in all the ministries in South Sudan in case there is a need. With the help of South Sudan, the United States will seek those who have finished their academic degrees in various fields, from healthcare, education, economy, finance, agriculture, security, water, and environment for training.

These professionals can be subjected to rigorous training in performing jobs in their fields for several months. After finishing training, they can be employed in various ministries to rescue South Sudan from high corruption, money laundering hubs, and other malicious financial activities that destroy South Sudan’s economy. Doing this policy option may at least amply financial constraints, leading to rules and regulations that improve the economy in South Sudan.

Most ministers appointed to the Ministry of Finance and Economic Planning have not worked or worked in related modernized jobs in the world, where individuals with qualifications are hired and moved up based on the knowledge and skills they have acquired from the workplace. It is not easy for an individual to attain a high position without proper training in the first place on how to handle the jobs and obey the rules and regulations that govern the financial industries worldwide. No reports suggest whether such a policy like that has been adopted and implemented with the help of credible organizations.

The South Sudan government continues to put people who cannot perform the job well rather than reducing South Sudan’s economy to ashes, as the President recently appointed a new minister without a substantial background in job experience from a recognized financial company. Until the South Sudan government realizes the problems of why every minister appointed does not perform well-being in fixing the economy, South Sudan’s economy will continue to languish in the world.

According to the UNDP economic indicators, South Sudan is tailgating the rest of the world economy (Todaro and Smith 2015). Many articles state that South Sudan is rich in oil but struggling to deliver essential services to its growing population.

References

IMF (2023). Developing capacity in tax and customs administration in South Sudan. https://www.imf.org/external/np/ins/english/capacity_countries_pf_ssudan.htm.

Todaro, M. P. and Smith, S. C. (2015). Economic development (12^th ed.). Published by Addison-Wesley Longman, Inc.