Cover IMF Staff Country Reports
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
Author:
International Monetary Fund. African Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2020: Issue 301
Language:
English
Publication Date:
16 Nov 2020
DOI:
https://doi.org/10.5089/9781513561356.002
ISBN:
9781513561356
ISSN:
1934-7685
Pages:
52
Keywords:
ISCR; CR; governor of the Bank of South Sudan; discussions with Mr. Ngor; oil price shock; commitment to the policy; IMF lending tracker; revised letter of intent; Oil prices; Debt sustainability analysis; Global; Southern Africa; East Africa
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2020: Issue 301