South Sudan: South Sudan Oil Revenue Drops amid Renewed Conflict

Jul 12, 2016 | Oil Review Africa
View Original

South Sudan oil revenues have dropped by 75 per cent in June to US$60 million a month and the International Monetary Fund has warned of economic ruin for Africa's newest country. Since Friday 8 July, renewed fighting broke out in Juba, the South Sudanese capital, with the death toll on Friday alone reported at more than 270 by Radio Tamazuj, a local news service. A ceasefire was declared on Monday 11 July. At the time of writing, the ceasefire was holding but fears of civil war between troops loyal to President Salva Kiir and troops loyal to Vice President Riek Machar still remain.