On 30th March, 2021, South Sudan received US$ 174.2 million to help finance the country’s urgent balance of payments needs and provide critical fiscal space to maintain poverty-reducing and growth-enhancing spending. A sharp decline in international oil prices triggered by the pandemic and devastating floods has eroded South Sudan’s economic gains. The economy is slated to contract by 4.2% in FY20/21 (IMF). The economic downturn widened the fiscal and the balance of payments deficits, opening large financing gaps in the absence of concessional financing.
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