South Sudan is requesting $250 million in financing from the International Monetary Fund (IMF) to tackle balance of payment issues and stimulate growth.
South Sudan Bank, led by Governor James Alic Garang, noted that the nation has secured three rapid credit facilities since 2020. This transitioned into a program monitoring with board involvement last year.
South Sudan has received three rapid credit facilities from the IMF since 2020. As a result, these measures led to the initiation of a program monitoring with board involvement last year.
Apart from seeking help from the IMF, South Sudan is talking with Qatar to resolve a $1 billion court ruling in favor of the Qatar National Bank over a defaulted loan. Garang said, “We’re negotiating to pay part of it, but we still need to settle this debt.”
The $250 million from the IMF is expected to tackle important issues like boosting economic growth, controlling inflation, and fairly distributing resources across the country.
