Geeska Afrika Online

South Sudan seeks $300M loan for budget

South Sudan’s government is seeking $300 million in loans to support its next budget as it works to stabilize the country which has been marred by violence since 2011.

The country’s government last week approved a budget proposal for the 2016/17 fiscal year, which nearly triples the current budget.

“If it is approved by the transitional National Legislative assembly (the funding aim) will be around $300 million, for which we will seek support from the donor community in terms of grants or external borrowing,” Reuters news agency reports Finance Minister Stephen Dau to say.

The world’s youngest nation descended into war in December 2013 after President Salva Kiir accused his then deputy Riek Machar of plotting a coup against his government.

Machar refuted the claims but went on to mobilize a rebel force to fight the government.

The violence halted many projects in the country, time and again causing huge inflations.

In March this year, Riek Machar returned to the capital in a UN-backed peace deal that saw him take up the position of first vice president under President Salva Kiir.

This peace was however short-lived as last month fighting broke out in the capital Juba between forces loyal to the two leaders, prompting Machar to flee with his troops.

Machar is currently receiving treatment in neighbouring Sudan.



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