SOUTH SUDAN: Economy:
South Sudan’s financial situation worsens

6/13/2012 3:28:56 AM
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SOUTH SUDAN - Economists and the World Bank warn that South Sudan’s economy could totally collapse before the end of 2012, however the country’s leaders insist that this is not true. - The United Nations has warned that despite the strict measures put in place by South Sudan to deal with its economic woes, humanitarian agencies will have to increase relief efforts in order to keep the country’s poor alive as the financial situation worsens. The economic crisis was triggered by South Sudan’s decision in January to shut down oil production, which accounts for 98 percent of the country’s revenue following a dispute with Sudan over fees charged to use its pipelines. Meanwhile, the government has stated that it is currently relying on reserves from savings it claims where accumulated over the last seven years. While the government has not revealed how much money it has in hand, it said that the funds would last for 18 months. (END/RADIO BULLETIN EDITOR/2012)

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