{"id":16593,"date":"2022-05-13T16:13:23","date_gmt":"2022-05-13T16:13:23","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows"},"modified":"2022-05-13T16:39:20","modified_gmt":"2022-05-13T16:39:20","slug":"ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows","title":{"rendered":"Ex-finance minister Salvatore Garang took $400m in exchange for future oil, document shows"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>South Sudan\u2019s former finance minister Salvatore Garang is behind the alleged sale of oil in advance for at least $400 million loan, according to a document from the ministry of finance and planning.<\/p>\n

Last week, incumbent minister of finance and planning Agak Achuil said the country\u2019s oil has been sold in advance until 2027 sparking controversy on social media among activists.<\/p>\n

The minister however backtracked on his remarks during a meeting at the state house J1 with President Salva Kiir Mayardit and said that his statements were taken by the media out of context.<\/p>\n

But a document released by the ministry of finance suggests that former minister Garang took a $400 loan for oil-proceeds from the African Development Bank (Afreximbank).<\/p>\n

\u201cReference is made to the \u201cTerm Sheet\u201d dated 2 of May 2019 duly executed between the Ministry of Finance & Planning and M\/s Afreximbank, vide which your company has been appointed as designated off-taker of crude oil cargoes allocated for repayment of the USDS 400M term loan facility,\u201d the letter dated October 10, 2019 and signed by Garang reads in part.<\/p>\n

\u201cThe proceeds derived from the sale of the crude oil allocated will be assigned to M\/s Afreximbank towards repayment of the USD $ 400 Million Term Loan Facility that is being availed to the Ministry of Finance and Planning. I am, hereby pleased to irrevocably allocate the following Twenty Five [25] crude all cargoes to Trinity Energy Limited as the appointed and authorized crude oil off taker to the Afreximbank \u2013 USD $400 Million Term Loan Facility for lifting between 2019-2023,\u201d it added.<\/p>\n

In his statements to journalists last week, Achuil said Garang spent millions of dollars from creditors and those loans were being paid off from the oil.<\/p>\n

\u201cThe money which was spent before I could come in was $334 million, this is the money people are talking about that I am sitting on, and I don\u2019t want to spent it, that was the money spent by those of Salvatore and Athian,\u201d Achuil said in a press conference in Juba last week.<\/p>\n

\u201cThe other money was 225 million US dollars, these were the money which were spent and they [WB, IMF] are still waiting for the auditing,\u201d he added.<\/p>\n

For More News And Analysis About South-Sudan<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Sudan. South Sudan\u2019s former finance minister Salvatore Garang is behind the alleged sale of oil in advance for at least $400 million loan, according to a document from the ministry of finance and planning. Last week, incumbent minister of finance and planning Agak Achuil said the country\u2019s oil has been sold in advance […]<\/p>\n","protected":false},"author":84,"featured_media":16592,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,12],"tags":[234,265,233],"class_list":["post-16593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-policy","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nEx-finance minister Salvatore Garang took $400m in exchange for future oil, document shows - South Sudan<\/title>\n<meta name=\"description\" content=\"South Sudan\u2019s former finance minister Salvatore Garang is behind the alleged sale of oil in advance for at least $400 mi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ex-finance minister Salvatore Garang took $400m in exchange for future oil, document shows\" \/>\n<meta property=\"og:description\" content=\"South Sudan\u2019s former finance minister Salvatore Garang is behind the alleged sale of oil in advance for at least $400 mi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows\" \/>\n<meta property=\"og:site_name\" content=\"South Sudan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-13T16:13:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-13T16:39:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2022\/05\/postQueueImg_3-627e89a6367dd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"631\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ex-finance minister Salvatore Garang took $400m in exchange for future oil, document shows\",\"datePublished\":\"2022-05-13T16:13:23+00:00\",\"dateModified\":\"2022-05-13T16:39:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows\"},\"wordCount\":387,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2022\/05\/postQueueImg_3-627e89a6367dd.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-finance-minister-salvatore-garang-took-400m-in-exchange-for-future-oil-document-shows\",\"name\":\"Ex-finance minister Salvatore Garang took $400m in exchange for future oil, document shows - 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