South Sudan cabinet endorses plan to borrow money
November 9, 2007 (JUBA) – The southern Sudan government said today it is looking for African and Arab funds in support of the development programs and economic infrastructure build up.
The newly appointed minister of Information and the spokesperson of the Government of South Sudan (GoSS), Gabriel Changson following the weekly cabinet meeting told the press, that the semi autonomous government is seeking to borrow five billion US dollars to for economic and social development in the south.
Changson said that the Council of Ministers had endorsed a report presented by the Minister of Finance seeking for the money after a meeting held with the African Development Bank in Rwanda recently. He further said that another load of 550 millon US dollar is under negotiation with the Gulf states.
Since last April unconfirmed reports circulated about GoSS plan to borrow money. It is thought that the lenders could include China, United Arab Emirates and World Bank
World Bank head in South Sudan, Surendra Agarwal, had advised the Government of Southern Sudan to be “cautious about how they take on debts, and the conditions on those debts.”
(ST)
Andrew Woja Henry
South Sudan cabinet endorses plan to borrow money
To borrow money from African and Arab funds is a great idea but again is not wise especially at this time when we are not yet a sovereign nation. Why don’t we wait until we become an independent nation. By the way, what has happened to our share from the oil. Cant’t we design a way of how to spend our money perfectly by putting first things first and stemming out corruption in the government. What is the gurrantee that the money to be borrowed would be used fully for the development and not go into private purse?
Kujur
South Sudan cabinet endorses plan to borrow money
Dear GOSS
For sake of development in southern sudan borrowing is not a solution and it will never reduce your financial strains. As a concern citizen I see the way your cabinet rush to get a loan or borrow many from African and Arab fund is a sign of failure because when a government fail to create projects than inflation of that country will rise and rise till the debt govern you.
I know the oil revenue are not enough to maintain your government with high corruption, ghost employee in lists of all your institutions lines but borrowing will not change anythings only it will enrich elites who want to expliots situation. We all support the development of our nation but from experience from other African countries who become victims of loan from International Monetary Fund, World Bank or other International financial institution we don’t want to add another war to fight back loan fathers or mothers our marginalization from jalaba is the geniune cause we are ready to fight.
If all can be the only way forward to promise land than your proposal is good but doubting that eating culture or let us enrich ourselves quickly life style will lead our new nation to new colonization.
Guem David
Canberra ACT
Matthew
South Sudan cabinet endorses plan to borrow money
I am totally opposing the idea of GoSS starting borrowing. Development in Southern Sudan does not need borrowing at all. There is a lot of money in Southern Sudan and it just need a strategy on how that money could be taped instead of borrowing. Starting to borrow before the referendum is not good at all.
I think before, GoSS plung Southern Sudan into a debt country, Southern Sudanese should be asked before some members of parliament start endorsing debt that could affect the future generation of Southern Sudan. This is very serious development that need to further discuss because GoSS could decide on this. Why can’t GoSS persued the OSLO February 2005 money instead of starting to borrow? I am pretty sure that with the current corruption within GoSS, the money will end up in the pockets of Brigadiers. GoSS should know that debt has a negative economic impact on the future of Southern Sudan, therefore, boworrowing shouldn’t just be decided by those who want to loot.
Mayen
South Sudan cabinet endorses plan to borrow money
While it is good to borrow money for development, we should also be careful about the strings that are attached to the debt.
Justin Chicago opiny
South Sudan cabinet endorses plan to borrow money
When Gabriel Changson was acting Minister for Finance he stated it clearly that borrowing money from world Bank or any agency is not the right thing to do.
He should insist that it is not still the right thing to do despite the council of ministers decision to do so.we do not want to put even the unborn sudanese into bondage. Loans are just not loans they have a string tied to it that is something you should avoid however if the Arab oil rich countries are ready to loan us money based on their Islamic Banking system that does not incur interest then go for that.Not every body know how money is handled that is why we ask for those with experience in the field.
Kifly Merhu
South Sudan cabinet endorses plan to borrow money
If the creditors are at the same time the consultants and runners of the development projects, the borrower has neither benfit nor development from it. Most of the money could be consumed befor starting any development projects. Some countries had lern a good lesson from such creditors and turn them their back. The GoSS should lern from those countries and is good adviced to make a consideration from whom to borrow the money.
Deng Leek
South Sudan cabinet endorses plan to borrow money
I truly agree with Monuki. GoSS is just playing game with Southern Sudanese. What kind of government would borrow money yet they are not officially a clear government? Did the cabinet confirm the Collapse of CPA? This is such a waste of money. I personally know that they want to borrow money for the interest of the personnel that are working for the GoSS. Please let us implement the CPA fully first, than we can think about the development. Development is not night stand thing. It takes long time, thus we should be patient.