South Sudan joins the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)

Chronicle Writer

SOUTH Sudan has signed a Memorandum of Understanding (MoU) operationalising its membership in the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI.)

MEFMI is a renowned regional organization that promotes sustainable economic development through macroeconomic, debt management and financial management capacity building.

With emphasis on policy formulation, implementation, and analysis, MEFMI supports its member countries including Zimbabwe in achieving macroeconomic stability, sustainable growth, and financial sector resilience.

The coming in of South Sudan is seen as a significant milestone as it marks a new chapter in the collaborative efforts to enhance macroeconomic and financial management in the Eastern and Southern Africa region.

In a joint statement issued by the country and MEFMI, the new membership demonstrates commitment by South Sudan to strengthening its macroeconomic and financial management framework, fostering regional cooperation, and promoting economic stability.

“By becoming a member of MEFMI, South Sudan gains access to a wide range of capacity-building programmes, technical assistance, and policy advice to enhance its economic governance and financial management capabilities,” reads the statement.

“As a member of MEFMI, South Sudan will have the opportunity to participate in regional policy dialogue forums, training workshops, and peer learning initiatives.

“These initiatives will enable the country to exchange best practices, build technical expertise, and enhance its institutional capacity in macroeconomic and financial management.”

MEFMI and South Sudan have expressed confidence that this partnership will contribute to South Sudan’s efforts to achieve sustainable economic growth, enhance financial sector stability, and improve the well-being of its citizens.

“By collaborating with MEFMI and other member countries, South Sudan will be better positioned to address macroeconomic challenges and capitalize on emerging opportunities for development,” reads the statement.

MEFMI’s other member countries are Angola, Botswana, Burundi, Eswatini, Kenya, Lesotho, Malawi, Mozambique, Namibia, Rwanda, Tanzania, Uganda, Zambia and Zimbabwe.

Both MEFMI and South Sudan look forward to a fruitful and productive collaboration that will benefit South Sudan and the entire Eastern and Southern Africa region.

“Together, we are committed to advancing the principles of economic governance, financial management, and regional integration for the collective prosperity of our member countries,” reads the statement.