A pumpjack drilling crude oil. (Credit: ded pixto/Shutterstock)
A leaked document in April 2024 revealed a $12.9 billion loan deal between South Sudan and a United Arab Emirates firm, exchanging crude oil payments for the next 20 years. Former Finance Minister Dr Bak Barnaba Chol reportedly signed the agreement with the Dubai-based lender. Despite government denial, the deal raised concerns due to the lender’s questionable background and lack of due diligence. South Sudan’s economy, already struggling, faces further challenges with potential defaults on existing loans. This development underscores the need for stronger financial oversight and transparency in international agreements.
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CES education minister refutes accusations that he sold school lands
CES education minister refutes accusations that he sold school lands
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