South Sudan could lose up to $28 billion if the current conflict continues for the next five years, according to a new study.

It takes into account declines in oil revenue and remittances and increases in military spending. It also looks at costs incurred in other countries in the region and at a global level.

The Economic Frontier, a London- based research group, says neighboring countries may face even bigger losses if the fighting continues.

But if the conflict is ended immediately, the economies of Ethiopia, Kenya, Sudan, Tanzania and Uganda could collectively save $53 billion.

The study was compiled in a report titled, “South Sudan: The Cost of War”, recommends that the parties to the conflict must immediately implement the cessation of hostilities (COH) agreements they have signed.

“Those governments and groupings with influence over both main parties to the conflict, especially those in attendance at this month’s summits, should strategically and urgently use that influence to support the parties to resolve the conflict, in the interests of protecting civilians and securing a sustainable peace as soon as possible,” it said.

The collaborators of the report include the Center for Conflict Resolution and the Center for Peace and Development Studies at Juba University.