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South Sudan Economy On the Verge of Collapse, World Bank Warns

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Tue, 2012-05-08 23:26 — Kathy Gilbeaux

South Sudanese citizens show support for their government’s decision to shut down all oil production. (Photo Courtesy Issac Billy/UN

allafrica.com - May 6, 2012

Washington — The newly independent state of South Sudan is quickly headed towards an economic cliff in light of its decision to shut down oil production which went into effect earlier this year, says a confidential report by the World bank.

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Country / Region Tags: 
Global
General Topic Tags: 
Collapse
Economics
Security
Vulnerability
Problem, Solution, SitRep, or ?: 
Problem
Groups this Group Post belongs to: 
Sudan
South Sudan
Africa Resilience Initiative

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Tue, 2012-05-08 23:45 — Kathy Gilbeaux

sudantribune.com

May 8, 2012 (WASHINGTON) – In response to numerous requests, Sudan Tribune is making the report used for the story ’EXCLUSIVE: South Sudan economy on the verge of collapse, World Bank warns’ available to our readers.

Yesterday the World Bank issued a statement saying that Sudan Tribune’s story "misrepresents the nature and content of the dialogue between the World Bank and the Government [of South Sudan] and development partners".

According to the attached documents, South Sudan is quickly headed towards an economic disaster as a result of its decision to halt oil production because of a dispute with Sudan on how much the landlocked nation should pay to transport and export its crude through Khartoum’s infrastructure.

(READ COMPLETE ARTICLE)

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