Sudan, South economies 'deep concern'

2012-05-08 15:41
Juba - The World Bank warned on Tuesday of its "deep concern" at the struggling economies of foes Sudan and South Sudan, locked in a bitter border dispute and an oil shutdown over transit fees.

"The World Bank is deeply concerned with the economic and development impact of the unresolved oil issues and how this will affect the people of both South Sudan and Sudan, particularly the most vulnerable," it said in a statement.

Offering support to both Juba and Khartoum to ensure the "protection of vulnerable people from economic hardship", the Bank said the rivals were struggling after a furious dispute over oil payments.

"Given the desperate living situation being faced by people in both Sudan and South Sudan, the World Bank's economic analysis unambiguously shows that it is in the interests of both countries to resume talks urgently," the Bank added.

South Sudan broke away from Sudan in July after a 2005 peace deal ended one of Africa's longest civil wars, which killed about two million people.

But tensions soon flared again over a series of unresolved issues, including the border, the future of disputed territories and oil.

As a result of independence, landlocked South Sudan took with it about 75% of the formerly united Sudan's oil production, worth billions of dollars.

In a key dispute, the two sides were unable to agree on how much the South should pay to export its crude through a northern pipeline and port, leading the Juba government in January to shut its production after Khartoum began seizing the oil in lieu of payment.

The poverty-stricken South said 98% of its pre-shutdown revenue came from oil.

A border war with South Sudan began in late March, escalating with waves of Sudanese air strikes against South Sudanese territory and the South's 10-day seizure of the Heglig oil field from Khartoum's army.

Both sides say they are complying with a United Nations Security Council resolution which ordered them to stop fighting from last Friday.

Join the conversation! 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.
Read more on:    un  |  world bank  |  sudan  |  south sudan  |  east africa 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
Comments have been closed for this article.

Inside News24


Rugby World Cup 2015

All the action from the 2015 RWC, including live coverage of all 48 matches, breaking news, fixtures, results, logs - and much more!


Rugby World Cup 2015

Jones: Japan can be 'team of the tournament'
Tuilagi gets punishment cut
As it happened: New Zealand 47-9 Tonga
Wales look to Biggar for big impact
Traffic Alerts

The phrase for today is:”Out of the blue.” Expect the unexpected and work with the changeable energy. Your intuition is more

There are new stories on the homepage. Click here to see them.


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 network.


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.