{"id":22286,"date":"2022-08-05T16:08:11","date_gmt":"2022-08-05T16:08:11","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-minister-agak-discloses-south-sudans-debts-at-2-05-billion"},"modified":"2022-08-05T16:15:38","modified_gmt":"2022-08-05T16:15:38","slug":"ex-minister-agak-discloses-south-sudans-debts-at-2-05-billion","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-minister-agak-discloses-south-sudans-debts-at-2-05-billion","title":{"rendered":"Ex-minister Agak discloses South Sudan\u2019s debts at $2.05 billion"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>The outgoing Minister of Finance and Planning has disclosed South Sudan\u2019s external debts, owed to international financial institutions, at 2.05 billion US dollars.<\/p>\n

Bulks of the hard currency was borrowed from around 20 foreign financial institutions.<\/p>\n

While presenting the national budget in parliament on Wednesday, former Finance Minister Agak Acuil disclosed for the first time, that the public outstanding debts stand at 2.05 billion in US currency.<\/p>\n

The official did not, however, give more details on the country\u2019s debts.<\/p>\n

But, according to a document published on the official website of the Ministry of Finance, the creditors include the World Bank, Qatar National Bank, International Monetary Fund and African Development Bank, among others.<\/p>\n

The country\u2019s biggest lender is the Qatar National Bank, having given a loan of nearly 600 million US dollars, followed by the American stock exchange company NASDAQ with 421 million US dollars.<\/p>\n

South Sudan also owes the World Bank at least 226 million US dollars.<\/p>\n

The accumulated WB loans were allegedly exhausted in projects including statistic capacity building, health rapid results, safety nets and local governments service delivery.<\/p>\n

Moreover, Juba has borrowed more than 170 million dollars from the International Monetary Fund, which were released in two phases as contingency reserve fund.<\/p>\n

This is in addition to the 10 million US dollars also borrowed from the African Development Bank.<\/p>\n

The government reportedly spent the loan on Financial Institutions Development, JEDCO power distribution and expansion, among others.<\/p>\n

Meanwhile, the former Finance Minister Agak Acuil said the government is pursuing a strategy to ensure that the national debts are maintained at a sustainable cost.<\/p>\n

\u201cMadam Speaker, the government\u2019s long term debts management objective will be to raise adequate levels of financing at minimum cost and risk,\u201d he said.<\/p>\n

\u201cIn addition, we will pursue strategies to ensure that the national public debts is maintained at sustainable level,\u201d Agak told the parliament.<\/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. The outgoing Minister of Finance and Planning has disclosed South Sudan\u2019s external debts, owed to international financial institutions, at 2.05 billion US dollars. Bulks of the hard currency was borrowed from around 20 foreign financial institutions. While presenting the national budget in parliament on Wednesday, former Finance Minister Agak Acuil disclosed for […]<\/p>\n","protected":false},"author":84,"featured_media":22285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,265,233],"class_list":["post-22286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nEx-minister Agak discloses South Sudan\u2019s debts at $2.05 billion - South Sudan<\/title>\n<meta name=\"description\" content=\"The outgoing Minister of Finance and Planning has disclosed South Sudan\u2019s external debts, owed to international financia ...\" \/>\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-minister-agak-discloses-south-sudans-debts-at-2-05-billion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ex-minister Agak discloses South Sudan\u2019s debts at $2.05 billion\" \/>\n<meta property=\"og:description\" content=\"The outgoing Minister of Finance and Planning has disclosed South Sudan\u2019s external debts, owed to international financia ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-minister-agak-discloses-south-sudans-debts-at-2-05-billion\" \/>\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=\"2022-08-05T16:08:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-05T16:15:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2022\/08\/postQueueImg_2-62ed421045e47.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\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-minister-agak-discloses-south-sudans-debts-at-2-05-billion#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-minister-agak-discloses-south-sudans-debts-at-2-05-billion\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ex-minister Agak discloses South Sudan\u2019s debts at $2.05 billion\",\"datePublished\":\"2022-08-05T16:08:11+00:00\",\"dateModified\":\"2022-08-05T16:15:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-minister-agak-discloses-south-sudans-debts-at-2-05-billion\"},\"wordCount\":327,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-minister-agak-discloses-south-sudans-debts-at-2-05-billion#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2022\/08\/postQueueImg_2-62ed421045e47.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-minister-agak-discloses-south-sudans-debts-at-2-05-billion#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-minister-agak-discloses-south-sudans-debts-at-2-05-billion\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/ex-minister-agak-discloses-south-sudans-debts-at-2-05-billion\",\"name\":\"Ex-minister Agak discloses South Sudan\u2019s debts at $2.05 billion - 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