Juba, March 20, 2019 (SSNA) — The International Monetary Fund (IMF) has accused South Sudanese government of contracting oil advances that are not transparent and urges the young nation to stop such a practice.
“On the management of oil revenues, the mission urges the authorities to immediately stop contracting oil advances that are expensive and nontransparent,” the IMF says.
The IMF explains that South Sudan’s government use of oil to secure loans could derail peace implementation and other important projects in the country. The agency also urges Juba to spend money on peace-related initiatives.