IMF, South Sudan in Pact for Emergency Funds of $112.7 Mln

Sacs of corn are loaded onto trucks in the Sudanese Red Sea city of Port Sudan, as part of the US support for Sudan in the field of humanitarian aid, on November 20, 2022. (AFP)
Sacs of corn are loaded onto trucks in the Sudanese Red Sea city of Port Sudan, as part of the US support for Sudan in the field of humanitarian aid, on November 20, 2022. (AFP)
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IMF, South Sudan in Pact for Emergency Funds of $112.7 Mln

Sacs of corn are loaded onto trucks in the Sudanese Red Sea city of Port Sudan, as part of the US support for Sudan in the field of humanitarian aid, on November 20, 2022. (AFP)
Sacs of corn are loaded onto trucks in the Sudanese Red Sea city of Port Sudan, as part of the US support for Sudan in the field of humanitarian aid, on November 20, 2022. (AFP)

The International Monetary Fund and South Sudan have reached a staff-level agreement for the release of about $112.7 million in emergency financing, the fund said on Tuesday. 

"This emergency financing under the new Food Shock Window will help South Sudan address food insecurity, support social spending, and boost international reserves," the IMF said in a statement. 

The IMF's executive board will approve the financing in coming weeks, the fund said. 

In early-November, United Nations agencies said up to 7.8 million people in South Sudan, two-third of the population, may face severe food shortages during next year's April-to-July lean season due to floods, drought and conflict. 

On Tuesday, the IMF put the number of people experiencing severe food insecurity at an estimated 8.3 million. 

"The combination of continued localized conflict, four consecutive years of severe flooding, and the rising price of staple commodities from Russia's war in Ukraine has increased the number of people experiencing severe food insecurity," it said. 

South Sudan erupted into civil war shortly after getting independence from Sudan in 2011 and while a peace agreement signed four years ago is largely holding, the transitional government has been slow to unify various military factions. 



EU to Keep US Trade Countermeasures on Hold Until August

European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS
European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS
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EU to Keep US Trade Countermeasures on Hold Until August

European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS
European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS

The EU will extend its suspension of countermeasures to US tariffs until early August as it aims for a negotiated solution on trade with the United States, European Commission President Ursula von der Leyen said on Sunday.

US President Donald Trump escalated his global trade war on Saturday and threatened to impose a 30% tariff on imports from the European Union from Aug. 1, separate from sector-specific duties, despite months of intense talks.

Announcing the extension of the halt on retaliatory measures, von der Leyen told reporters the bloc would "continue to prepare further countermeasures so we are fully prepared."

A first package of countermeasures to US tariffs on steel and aluminium that would hit 21 billion euros ($24.6 billion) in US goods was suspended in April for 90 days to allow time for negotiations.

The suspension had been due to expire on Monday.

A second package has been in the works since May and would target 72 billion euros of US goods, but these measures have not yet been made public and the final list requires approval by member states.

Von der Leyen added that use of the EU's Anti-Coercion Instrument was not yet on the table.

"The (anti-coercion) instrument is created for extraordinary situations, we are not there yet," Reuters quoted her as saying.

The instrument allows the bloc to retaliate against third countries that put economic pressure on EU members to change their policies.

Possible retaliatory steps could include restricting EU market access to goods and services, and other economic measures related to areas including foreign direct investment, financial markets and export controls.