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.

Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; Statement by the Executive Director for the Republic of South Sudan

Volume/Issue: Volume 2020 Issue 301

Publication date: November 2020

ISBN: 9781513561356

$18.00

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Topics covered in this book

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Exports and Imports , Finance , Economics- Macroeconomics , Public Finance , 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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Republic of Congo : 2001 Article IV

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Malawi

Peru

Summary

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.