As per data released by the International Monetary Fund (IMF) South Sudan earned $2.3 billion from its oil last year, up from $1.7 billion in 2017. The financial gain is attributed to the peace deal signed between President Salva Kiir and his opposition leader Riek Machar. In 2019, the country hopes to earn $2.76 billion with higher oil production. The oil production was disrupted in December 2013 following a clash between forces allied to President Kiir and those of Dr Machar, disrupting oil production and harming the oil- economy.
The Bretton Woods institution is of the view that the better political and security environment of South Sudan would support economic recovery, in the oil and non-oil sectors, bringing in new investments. Inflation level has also softened giving signs of economic recovery. IMF has projected economic growth of four percent annually through the late 2020s when oil production is projected to reach a peak. While production is expected to weaken in aging oil fields after reaching its peak in the late 2020s, the non-oil sectors are expected to pick up. On the strength of political stability oil production and public investments, the country is expected to achieve economic growth of 8.1 percent in 2020. The country is also trying to improve transparency in the management of revenues. South Sudan has a heavy debt load. It owes World Bank $53 million ,the African Development Bank $28 million, the China Exim Bank $150 million and Its biggest debt liability 0f $627 million from the Qatar National Bank.
