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South Sudan strapped for oil cash

About 98% of South Sudan’s income is derived from its oilfields, but the country has not received any oil money since May

SOUTH SUDAN has received no oil money since 30 May, the country’s interim central bank governor, Kornelio Koryom Mayiik, has confirmed, claiming the fledgling nation has hard-currency reserves to last “several more months”.  Central bank officials said that since it received the May payment, the country, which formally seceded from Sudan on 9 July this year, has been using hard-currency reserves to pay salaries and to meet other government expenses. The last disbursement was made under the now-defunct 50:50 revenue-sharing deal with the Sudanese government in Khartoum, agreed under the 2005 Comprehensive Peace Agreement. Sources said the May tranche, which covered revenues for April and May

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