Sunday, December 22, 2013

South Sudan's Petroleum Revenue Management Act

The Juba-based Sudd Institute, an independent research organization, published on 12 December 2013 a study titled "South Sudan's Petroleum Revenue Management Act" by Emily Savage, a visiting scholar at the Sudd Institute.  The Petroleum Revenue Management Act (PRMA) establishes a formalized structure for distribution of petroleum revenues to meet budgetary needs, savings and revenue stabilization, and direct transfers to petroleum producing states and affected communities.  The PRMA has the potential to be a game changer for South Sudan, avoiding capital flight and unstable public expenditures while ensuring that long-ignored communities in the oil-producing regions receive direct benefit from the petroleum sector.

Of course, if the current carnage in South Sudan does not come to an end quickly, this report and South Sudan's oil revenue are all moot.

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