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The International Monetary Fund and South Sudan have reached a staff-level agreement for the release of about US$112.7 million in emergency financing
The International Monetary Fund and South Sudan have reached a staff-level agreement for the release of about US$112.7 million in emergency financing. Like in the case of Malawi, this emergency financing is under the new Food Shock Window. It will help South Sudan address food insecurity, support social spending, and boost international reserves.
The IMF’s executive board will approve the financing in the coming weeks, while in the case of Malawi the fund has already been approved. According to the UN agencies, over 7.8 million people in South Sudan, two-thirds of the population, may face severe food shortages during next year’s April-to-July lean season due to floods, drought, and conflict. A recent estimate by the UN agencies puts the number of vulnerable people at 8.3 million.
The reasons attributed by the UN agencies for the heightened food insecurity are the same as that of Malawi, such as four consecutive years of severe flooding, and the rising price of staple food due to the Russia-Ukraine war.
Read Also:
https://trendsnafrica.com/food-insecurity-in-south-sudan-alarming-warns-un/
https://trendsnafrica.com/un-humanitarian-mission-in-south-sudan-to-assess-relief-works/
https://trendsnafrica.com/sudan-and-south-sudan-to-reopen-borders-after-11-years/
South Sudan erupted into civil war shortly after getting independence from Sudan in 2011. A peace agreement was signed four years ago. But the transitional government has been slow to unify various military factions.
