{"id":32903,"date":"2023-03-02T17:53:38","date_gmt":"2023-03-02T17:53:38","guid":{"rendered":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-secures-114-8-million-imf-loan"},"modified":"2023-03-02T18:10:44","modified_gmt":"2023-03-02T18:10:44","slug":"south-sudan-secures-114-8-million-imf-loan","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-secures-114-8-million-imf-loan","title":{"rendered":"South Sudan secures $114.8 million IMF loan"},"content":{"rendered":"

Africa-Press – South-Sudan. <\/strong><\/span>The South Sudan government on Thursday secured $114.8 million in emergency funding support from the International Monetary Fund (IMF), the finance minister said.<\/p>\n

This comes after the country\u2019s authorities and the IMF staff reached a staff-level agreement for emergency financing through the fund\u2019s new \u201cFood Shock Window\u201d of the Rapid Financing Instrument (RFI).<\/p>\n

The funding was approved and disbursed by the Executive Board of the International Monetary Fund (IMF) on March 1st, 2023.<\/p>\n

Dier Tong Ngor, Minister of Finance said the emergency funding will help the country address food insecurity, and support the health and education sectors.<\/p>\n

\u201cThis disbursement (equivalent to 35% percent of South Sudan’s quota in the IMF) will help meet the urgent Balance of Payment needs while supporting food security and the part going for the budget support will meet urgent health and education financing,\u201d Dier told reporters during a press conference held in Juba on Thursday.<\/p>\n

Dier said the fund will be used to address the economic crisis.<\/p>\n

\u201cWith this new financing, South Sudan has enhanced its foreign exchange reserves position, and the Bank of South Sudan can now intervene in the market to meet any gaps in the foreign exchange market,\u201d he added.<\/p>\n

He said the country is undertaking other initiatives to restore economic stability.<\/p>\n

\u201cTo counteract these new realities, South Sudanese authorities have worked to maintain macro-financial stability in these highly challenging circumstances,\u201d he said. \u201cKey macroeconomic policies have been geared toward avoiding monetary financing, safeguarding priority expenditures, easing pressure on international reserves, and preserving financial stability.\u201d<\/p>\n

He said the country will remain closely engaged with the IMF to find better ways to implement the Program Monitoring with Board involvement (PMB).<\/p>\n

\u201cThe PMB aims to provide a strong anchor for macroeconomic policies, further catalyze donor support, and help pave the way towards the ECF arrangement with the IMF soon,\u201d he said.<\/p>\n

The years of heavy floods, the Ukraine conflict, and the Covid pandemic have worsened an already dire humanitarian situation, with some 8.3 million people, or two-thirds of the population, facing acute food insecurity, the IMF said.<\/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 South Sudan government on Thursday secured $114.8 million in emergency funding support from the International Monetary Fund (IMF), the finance minister said. This comes after the country\u2019s authorities and the IMF staff reached a staff-level agreement for emergency financing through the fund\u2019s new \u201cFood Shock Window\u201d of the Rapid Financing Instrument […]<\/p>\n","protected":false},"author":84,"featured_media":32901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,293],"tags":[234,265,233],"class_list":["post-32903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-south-sudan","tag-south-sudan"],"yoast_head":"\nSouth Sudan secures $114.8 million IMF loan - South Sudan<\/title>\n<meta name=\"description\" content=\"The South Sudan government on Thursday secured $114.8 million in emergency funding support from the International Moneta ...\" \/>\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\/south-sudan-secures-114-8-million-imf-loan\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Sudan secures $114.8 million IMF loan\" \/>\n<meta property=\"og:description\" content=\"The South Sudan government on Thursday secured $114.8 million in emergency funding support from the International Moneta ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-secures-114-8-million-imf-loan\" \/>\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=\"2023-03-02T17:53:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-02T18:10:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2023\/03\/postQueueImg_1677767025.12.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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\/south-sudan-secures-114-8-million-imf-loan#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-secures-114-8-million-imf-loan\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Sudan secures $114.8 million IMF loan\",\"datePublished\":\"2023-03-02T17:53:38+00:00\",\"dateModified\":\"2023-03-02T18:10:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-secures-114-8-million-imf-loan\"},\"wordCount\":360,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-secures-114-8-million-imf-loan#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-sudan\/sites\/32\/2023\/03\/postQueueImg_1677767025.12.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Sudan\",\"South-Sudan\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-secures-114-8-million-imf-loan#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-secures-114-8-million-imf-loan\",\"url\":\"https:\/\/www.africa-press.net\/south-sudan\/all-news\/south-sudan-secures-114-8-million-imf-loan\",\"name\":\"South Sudan secures $114.8 million IMF loan - 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