South Sudan Government Negotiates $50 Million IMF Loan
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South Sudan is in talks with the International Monetary Fund for a loan of as much as $50 million to help the two-year-old country recover from a halt to oil exports, central bank Governor Kornelio Koriom Mayik said.
Foreign-exchange in the East African nation dwindled after South Sudan shut crude production in a dispute that began last year with neighboring Sudan over border security, oil-transit fees and citizenship issues. The country stopped pumping from January 2012 to April and then reduced output again in June because of the disagreements, which were resolved this week.