South Sudan on the Verge of Securing Record $13 Billion Oil-Backed Loan from UAE Firm

South Sudan is close to getting a $13 billion loan from a company in the United Arab Emirates. The loan is backed by the country's oil reserves. This loan would be the largest ever for South Sudan. The experts monitoring South Sudan's arms embargo say that paying back this loan could use up most of the country's revenue for many years, depending on oil prices. South Sudan became independent from Sudan in 2011 after a long civil war that caused many deaths. Oil is very important for South Sudan's economy. After gaining independence, South Sudan had its own civil war from 2013 to 2018. The President and Vice President then made a deal to share power and form a government together. The United States and other countries are pushing South Sudan to follow the peace deal from 2018 more quickly and get ready for elections. South Sudan's oil exports have been affected by factors like the ongoing civil war in Sudan and floods that damaged oil wells. The loan documents show that the loan from the UAE company is split into parts. The experts are concerned about South Sudan's debts related to oil. South Sudan was supposed to have elections by February 2023, but they were postponed to December 2024. In early April, the President warned against holding onto power, especially after a proposal to delay elections further.