World Bank Denies “South Sudan economy on the verge of collapse” Story

May 7, 2012 (WASHINGTON) – The World Bank on Monday issued a response to Sudan Tribune’s story published yesterday.

The World Bank has been working actively in South Sudan since 2005 to provide early assistance, given its urgent development needs. As part of our support, the Bank provides technical and economic analysis to the government, and recently provided an assessment of the economic situation as requested by the Government of South Sudan.

Your story yesterday misrepresents the nature and content of the dialogue between the World Bank and the Government and development partners. 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.

The ongoing dialogue between the World Bank and South Sudan focuses on positive steps that can be taken to manage the different economic scenarios arising out of its oil dispute with Sudan.

The World Bank Group will continue to work closely with both South Sudan and Sudan to support the countries through their economic difficulties, focusing on economic resilience, protection of vulnerable people from economic hardship, as well as longer term development needs.

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 and resolve their ongoing dispute over oil payments and other issues peacefully.

Lillian Foo

Communications Officer,

Africa Region

The World Bank Group

+1 (202) 458.7726

lfoo@worldbank.org

http://www.sudantribune.com/World-Bank-responds-to-Sudan,42527