Africa-Press – South-Sudan. The Ministry of Finance and Planning and Qatar National Bank have agreed to expedite discussions to finalize debt repayment in the near future.
This followed a virtual meeting between the Finance Minister. Marial Dongrin Ater and officials from Qatar National Bank (QNB) on Tuesday.
In early June, the Qatar National Bank (QNB) petitioned a US federal court in Washington, D.C., to enforce a $1 billion award against South Sudan after the country failed to pay back a $700 million loan it received during its civil war years.
US media reported that QNB said South Sudan and its central bank were yet to settle the award nearly a year after it was made by a tribunal under the International Centre for Settlement of Investment Disputes (ICSID).
The bank said it started working with South Sudan after its independence in 2011.
The Doha-based commercial bank said it provided loans to help South Sudanese businesses buy food, agricultural products, pharmaceuticals, and other essential goods to aid the country’s development.
In 2013, when civil war broke out and oil production fell, QNB said it provided additional financing $250 million to help South Sudan through the crisis.
The Bank of South Sudan reportedly fell into default in May 2015 and was unable to pay back its loans.
Subsequently, the two sides struck an agreement in 2016 to reschedule payments.
Later, in 2018, QNB provided a new $700 million term loan to help South Sudan clear its previous dues and stabilize its payments.
QNB says it went to arbitration in 2020 after South Sudan failed to make payments in 2019.
The ICSID tribunal in January 2024 ruled in QNB’s favor and demanded that South Sudan pay back the amounts in full.
Representatives for QNB said this ruling must be enforced immediately. The Qatari bank is represented by lawyers from Withers Bergman LLP.
In a post on the ministry’s official social media on Tuesday, 08/07/2025, both parties reaffirmed their shared commitment to an amicable resolution, grounded in the longstanding partnership and economic cooperation between Juba and Doha.
“We are encouraged by the collaborative spirit demonstrated by all parties during today’s meeting. The Government remains fully dedicated to resolving this matter through continued and effective engagement with QNB,”said Minister Dr Marial Dongrin Ater.
“Our focus is on reaching a mutually agreeable settlement that strengthens this vital partnership.”
The Finance Minister expressed the government’s commitment to sustainable debt servicing and reinforced confidence in South Sudan’s financial management systems.
Minister Dongrin also reiterated the government’s commitment to transparent and responsible fiscal policy as part of its debt resolution efforts to stabilize the economy through accountable and transparent practices.
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