Analyst dares early imbursement of oil cash

By Taban Henry

An economic analyst and a lecturer at the University of Juba has defied government’s plan to receive oil money in advance.  

Speaking to No.1 Citizen Daily Newspaper in a telephone interview, Economist Reja Gladys said that sale of the country’s crude oil in advance has a negative impact to the people of South Sudan.

“The crude oil being sold in advance has definitely had impact to the people of South Sudan. Right now, the national caucuses have no money to pay the salaries of the civil servants to provide services to the people,” she said’

Last week the minister of finance made it public that the crude oil has been sold in advance and the money was received for duration up to 2027.

Ms. Reja said that the sale of the crude oil in advance will negatively affect the people of South Sudan who are suffering and not benefiting from their own resources.

The lecturer said that the loan committee at the ministry of finance has to sit down and evaluate the contract and what the country has benefited from the contact.

Gladys further said that only a few individuals decided to make the contract. She however wonders whether these loans are being passed by the parliament despite the country having stayed for a number of years without the legislature and that if the parliament accepted, if the public was aware as well.

“Now, we have a lot of repercussions that the international finance institutions like World Bank and IMF they are not throwing money now because the country is corrupt and in the corruption index we are no.1. We are not managing our resources well and this is a question of proper resource management. If we were to manage our resources we would have not gotten the loans at the expense of the people suffering all over the country,” she stressed.

The economic analyst hinted that the leaders accepted to tell the public the reality and she recommended the country to take the right channel including the discussion of some of these loans in the right channels including the parliament and the public.

“We get the loans and we don’t invest them or having investment projects, if they were to get this loan and established a good project in the country like tourism industry or factories that generates revenue to the government, it would be good. The oil is being given away and we have nothing,” she stated.

The economic analyst also revealed that it’s unfortunate for the country’s resources to be sold out especially without the knowledge of the public. She appreciated the transparency of the minister of informing the country about the situation with the country’s oil.

Gladys also recommended for such issues like loans to be first discussed by the legislature before they are undertaken.

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