South Sudan joins IMF, World Bank

2012-04-18 22:35

Washington - South Sudan, the world's newest nation, joined the World Bank and the International Monetary Fund on Wednesday, becoming the sister institutions 188th member.

IMF chief Christine Lagarde welcomed South Sudan to the fund, saying "the IMF will do its best to assist the country in setting up the foundations for economic stability and growth in the period ahead".

Finance Kosti Manibe Ngai signed the agreement papers with the IMF. The World Bank confirmed to AFP that South Sudan had joined the World Bank.

South Sudan, which gained independence from Sudan last July after two decades of war, applied for membership in the IMF and World Bank in April 2011.

The IMF is participating in a dedicated $11m trust fund in support of South Sudan over the next four years.

"The European Union plans to come on board as a lead donor," the fund said.

Read more on:    imf  |  world bank  |  south sudan  |  east africa

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
Traffic
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.