Assumes leadership of East African Community, South Sudan gets $15 million debt forgiveness

South Sudan President Salva Kiir assumed the rotating chairmanship of the East African Community (EAC) for the first time at the EAC Summit in Tanzania on November 24.

Burundian President Evariste Ndayishimiye hands over the gavel to South Sudanese President Salva Kiir as EAC Chairman Peter Mathuki (C) looks on during the EAC Summit in Arush, Tanzania on November 24. (Source: East African)

South Sudan has been exempted from a portion of its outstanding contributions to the regional body. Accordingly, South Sudan will be forgiven $15 million of the $36 million owed and will commit to making timely annual contributions in accordance with the obligations of EAC member states.

In his speech at the conference, President Salva Kiir affirmed: “As a partner country, South Sudan is fully aware of its obligations under the signed agreement, especially the harmonization of laws and policies. We are all aware of our necessary obligations towards the operation of the EAC”.

Before taking over the rotating leadership, South Sudan was the country with the largest EAC membership fee arrears and was also considered a country that lacked interest in the bloc's affairs because it had yet to harmonize its customs policies and laws.

To date, all EAC member states are in arrears with their annual membership fees, with Burundi leading the way with a debt of $15.5 million and the Democratic Republic of Congo, which has not paid a single cent since joining, owing around $14.7 million. Rwanda currently owes $7.3 million to the EAC; Uganda, $6.1 million; Tanzania, $123,694; and Kenya, just $20. The delay in the transfer of annual contributions has made it difficult for the EAC to run its operations, forcing it to rely heavily on other donors for funding.

At this conference, to ensure sustainable financial resources for this regional organization, the heads of state of the EAC countries decided that in the coming time, 65% of the contributions to the organization will be divided equally among all member countries, while the remaining 35% will be contributed based on the assessment of the financial capacity of the countries.

Source: https://baoquocte.vn/dam-nhan-vai-tro-lanh-dao-cong-dong-dong-phi-nam-sudan-duoc-mien-no-15-trieu-usd-251474.html