News / / 08.19.20

Reuters Africa: South Sudan central bank says foreign exchange reserves have run out

South Sudan, battered by years of conflict and corruption, has run out of foreign exchange reserves and cannot stop the pound’s depreciation, a senior central bank official in the oil-producing nation said on Wednesday.

South Sudan gets almost all of its revenue from crude oil, but current output, at around 180,000 barrels per day, has plummeted from a peak of 250,000 bpd before the outbreak of conflict in 2013, according to official figures…

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