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Kiir asks the East African Community to restructure South Sudan’s debt payment formula

Feb 27, 2021(Nyamilepedia) — South Sudan president, Salva Kiir Mayardit, has asked the East African community to restructure the amount the country owes the EAC during the 21st East African Community Heads of State Summit.

President Salva Kiir speaking during the East African Community, Feb 27, 2021(Photo credit: supplied)
President Salva Kiir speaking during the East African Community, Feb 27, 2021(Photo credit: supplied)

“H. E. President Salva Kiir Mayardit appealed to EAC’s Secretariat to work with South Sudan officials to restructure the amount South Sudan owes to the EAC emphasizing that it should be done with the goal of finding a suitable formula for instalment repayment over an agreed upon time period,” the presidential press said in a statement.

The president assured the EAC that his government will commit to the terms of payment that will be given as well as the membership fee.

“H.E. President Salva Kiir Mayardit said, if a formula for repayment of arrears is determined, the Government of South Sudan starting this year (2021) is committed to paying its membership fee without default’” the statement continued.

As a commitment, South Sudan remitted USD 1.5 million as the first installment of the USD 2.4 million that the country is supposed to pay this year.

“As a demonstration of commitment to continue honouring South Sudan’s financial obligations to the East Africa Community, H.E. President Salva Kiir informed the summit that South Sudan has just remitted the sum of USD 1.5 million as a first tranche of a total of USD $ 8.4 million that South Sudan shall fully pay before the end of this year,” said that statement.

The summit was attended by EAC Heads of States including H.E. President Salva Kiir Mayardit of Republic of South Sudan, H.E. President Paul Kagame of Republic of Rwanda, H.E. President Yoweri Kaguta Museveni of Republic of Uganda, H.E. Uhuru Kenyatta of Republic of Kenya, H.E. Deputy President Samia Suluhu of the United Republic of Tanzania, H.E. President Evariste Ndayishimiye of Burundi.

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