South Sudan Economy Contracts 6 per cent From Low Oil Revenue and Floods --[Reported by Umva mag]

• IMF: Juba is grappling with economic woes partly resulting from the spillovers of the war in Sudan and recurrent flooding.
• Oil revenues are exhausting because the pipeline that carries 70% of South Sudan’s oil exports has been inoperable since February 2024.
• These challenges are negatively impacting the country’s economic and social outcomes.

The ongoing war in Sudan, as well as floods attributable to extreme weather patterns, have pushed South Sudan’s economy to the red, with reports showing the country suffered -6 percent contraction in the period ending June 2024

In an update shared by the International Monetary Fund (IMF), South Sudan faces “several difficult macroeconomic challenges,” chocking growth in Africa’s youngest country.

The IMF said that authorities in Juba are grappling with economic woes “partly resulting from the spillovers of the war in Sudan and recurrent flooding.” The multilateral lender noted that this double whammy of challenges negatively impacts …

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