Category: Economy

Economy

S. Sudan, Sudan talks over oil transit fees cordial-official

A government delegation that left for Sudan days ago says it held cordial discussions with the authorities in Khartoum on how to implement a new proposed oil deal.

This comes as Juba said it completed the $3 billion it pledged to Khartoum after the country gained independence in 2011.

The 2012  Transitional Financial Arrangement deal made Sudan drop its $ 36 fee per barrel pre-condition to just about $10 for South Sudan to transport its crude through the territory.

The agreement struck on September 27, 2012, set out the terms governing the transit, transportation, and processing of oil originating from South Sudan.

Over the weekend,  the Special Advisor on  Presidential Affairs Bol Mel headed a delegation comprised of the governor of the Central Bank, Johnny Ohisa, and the Minister of Finance, Dier Tong to Khartoum for bilateral talks.

Speaking upon their arrival in Juba on Wednesday, the Minister of Finance Tong Dier said they discussed with the Sudanese authorities issues related to oil and economic matters.

‘The team will also come from Khartoum to Juba where we will thereby continue the discussions so that we complete understanding on all issues that relate to the oil agreement,” he said.

He told the state-run TV SSBC wenesday that South Sudan has completed the payment of  $3 billion in March 2022 and the two countries will discuss the implementation of the oil transit fees and uncapping oil production at Block 5A.

IMF backs South Sudan push to restrict dollar transactions

The International Monetary Fund (IMF) has backed a move by the South Sudanese government to restrict using the US dollar in local transactions and contracts as part of the efforts by President Salva Kiir’s administration to contain the high cost of living that has hit households and businesses. Continue reading IMF backs South Sudan push to restrict dollar transactions

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