US in talks with IMF on South Sudan aid

NAIROBI — The US and the International Monetary Fund are discussing a rescue package for South Sudan to help rebuild the economy after almost two years of war, a US envoy said.

Officials are in talks over the extent of the financial assistance required to restore macroeconomic stability to the oil-producing nation, US special envoy to South Sudan Donald Booth said on Monday by phone from New York.

South Sudan’s economy is projected to contract 7,5% this year, while the deficit on its 10,6 billion-pound ($3,6 billion) budget is expected to widen to 5,9% of gross domestic product from 3,7% last year, according to the African Development Bank.

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