(MENAFN- Gulf Times) The International Monetary Fund (IMF) approves about USD 114.8 million in emergency funding support for South Sudan.
In a statement, IMF said that the emergency financing under the Food Shock Window will help South Sudan to address food insecurity while maintaining social and growth-enhancing spending, explaining that four years of severe floods, in addition to the war in Ukraine and the Covid-19 pandemic, exacerbated the already dire humanitarian situation, as about 8.3 million people, or two-thirds of the population, face acute food insecurity.
IMF's statement pointed out that the fund's executive board also discussed a 9-month staff-monitored programme that was approved in February by its management with the aim of helping the authorities establish a track record toward an IMF-supported upper credit tranche (UCT) programme.
In 2011, South Sudan also declared its independence from Sudan, but two years later it descended into a civil war that claimed 400,000 lives. Despite a 2018 peace agreement between the two main rivals, warfare has persisted, killing many civilians and forcing many more to flee their homes.
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.