- Written/Submitted by External Source
- Category: Latest (South) Sudan News From Various Sources
- Hits: 379
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.
- The flag of South Sudan flies after the United Nations General Assembly voted on South Sudan’s membership to the United Nations at UN headquarters in New York July 14, 2011 (Reuters)
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.
Oil is the economic lifeline for both nations but South Sudan in particular relies on crude exports for 98% of its income.
"The World Bank is deeply concerned with the economic and development impact of the unresolved oil issues and how this will affect the people of both South Sudan and Sudan, particularly the most vulnerable," World Bank said in its statement yesterday.
"Given the desperate living situation being faced by people in both Sudan and South Sudan, the World Bank’s economic analysis unambiguously shows that it is in the interests of both countries to resume talks urgently," the Bank added.
The United Nations Security Council (UNSC) ordered both nations last week in a Chapter VII resolution to resume negotiations on several key post-independence issues including oil. An agreement need to be reached within four months after which the mediation will propose a solution.
Both countries announced their acceptance of the resolution but Khartoum pressed concern on the tight deadline among other reservations.
Related news items:
Newer news items:
- Cecafa welcomes South Sudan - SuperSport.com (blog) - 09/05/2012
- Sudan War Planes Bomb South Sudan, Violating UN Resolution: Army - Jakarta Globe - 09/05/2012
- Music video by South Sudanese singer Yaba Angelosi - Christian Science Monitor - 09/05/2012
- Official: Sudan warplanes bomb South Sudan - La Crosse Tribune - 09/05/2012
- South Sudan army continues border recruitment - Sudan Tribune - 09/05/2012
Older news items:
- African viewpoint: Last of the Nuba? - BBC News - 08/05/2012
- Oil row with South cost Sudan $2.4 bln: minister - San Marino Tribune - 08/05/2012
- South Sudanese in Shakespeare play, a call for peace - IBNLive.com - 08/05/2012
- Education is key to supporting women in South Sudan - The Guardian (blog) - 08/05/2012
- South Sudanese tribal clashes can erupt with a kick of a football - Borglobe - 08/05/2012
Popular news items:
- Former Lost Boy Gives Back to South Sudan - Care2.com (blog) - 31/05/2012 - Read 6319 times
- Tackling Blindness in South Sudan - Care2.com (blog) - 09/11/2012 - Read 4847 times
- With prisons full, South Sudan to introduce mobile courts to clear backlog of ... - Washington Post - 11/10/2012 - Read 4540 times
- South Sudan troupe sees new country's struggle in Shakespeare - Los Angeles Times - 17/05/2012 - Read 4500 times
- NDSU student from South Sudan receives scholarship - In-Forum - 29/09/2012 - Read 4278 times