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South Sudan debt level stands at 60 percent of GDP – Finance minister

Finance and Economic Planning minister Hon. Stephen Dhieu Dau speaking to the press. (FIle Photo)

By  Daniel  Deng Bol South Sudan  debt level could  be expected to rise to around sixty percent of Gross Domestic  Product (GDP), a trend that has prompted the  government  to propose a lean 2017/2018  budget  limiting borrowing from the World Bank  and other sources  to two  billion, one hundred  and seventy million(2,172 million). The total outstanding debt is provisionally estimated at fifty-four billion, seven hundred and sixty-seven million Pounds (54,767 million). This includes two million, two hundred and twelve million Pounds (2,212 million) of borrowing from commercial banks, and nineteen billion, nine hundred and seventy million pounds (SSP 19,970 Million) of direct borrowing from   Bank of South Sudan. It also includes an outstanding recapitalizing claim to   the Bank of South Sudan of two billion, one hundred and sixty-five million (SSP 2,165 Million). The figure also includes outstanding oil advances equivalent to eighteen billion, two hundred and eighty- nine million Pounds (18,289 million) and external loans to the World Bank and china of Fourteen billion, two hundred and ninety-six million Pounds (SSP 14,296 million. The outstanding debt […]

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