South Sudan seeks $2.5 billion in oil-backed loans mid rising debt concerns

South Sudan has confirmed it requested $2.5 billion in oil-backed loans from two international firms, exceeding the country’s annual budget of less than $2 billion. The Petroleum ministry said on Thursday that the requests, sent in late October, were preliminary and intended solely for official Government purposes. The loans comprise $1 billion from ONGC Nile […]

Ivory Coast: bean shortage pushes cocoa exporters on verge of default

Cocoa exporters in Ivory Coast are on the verge of defaulting on their contracts due to a lack of beans and urgently need up to 150,000 tonnes to honor their commitments, according to industry sources. As the world’s top producer heads towards the end of its October-to-March main harvest, cocoa bean supply is tight, with […]

Libya: GNA slams Greek foreign minister’s visit to rival Eastern administration

The foreign minister of the UN-backed Libyan Government of National Accord (GNA) has castigated the visit to his Greek counterpart, Nikos Dendias to the rival east-based administration, in reaction to GNA’s November maritime deal with Turkey. Minister Mohamed Taher Siala in statement on the ministry’s social media account said Dendias Sunday visit violates the decisions […]