Republic of South Sudan: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; Statement by the Executive Director for the Republic of South Sudan
November 16, 2020
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After five years of civil conflict, the warring parties came to a peace agreement in September 2018. Until the COVID-19 crisis broke out, improved political stability and an uptick in international oil prices led to significant progress, with a rebound in economic growth, a decline in inflation, and a stabilization of the exchange rate. The COVID-19 pandemic is severely disrupting South Sudan’s economy, leading to a sharp decline in projected growth (-3.6 percent in FY20/21, about 10 percentage points below the pre-pandemic baseline) and a contraction of oil export proceeds—the main source of exports and fiscal revenue—which has given rise to urgent balance of payments needs and opened a large fiscal financing gap.
Subject: Debt sustainability analysis, External debt, Oil prices, Prices, Public debt, Public financial management (PFM), Rapid Credit Facility
Keywords: commitment to the policy, CR, Debt sustainability analysis, discussions with Mr. Ngor, East Africa, Global, governor of the Bank of South Sudan, IMF lending tracker, ISCR, oil price shock, Oil prices, revised letter of intent, Southern Africa
Pages:
52
Volume:
2020
DOI:
Issue:
301
Series:
Country Report No. 2020/301
Stock No:
1SSDEA2020002
ISBN:
9781513561356
ISSN:
1934-7685
