🔴BREAKING NEWS: UK Court Orders South Sudan to Repay $657 Million to Afreximbank in Major Debt Ruling LONDON – In a landmark ruling that could shake South Sudan’s fragile economy, the U.K. High Court has ordered the government of South Sudan to repay a staggering $657 million to the African Export-Import Bank (Afreximbank) after defaulting on pandemic-era and trade-related loans. The verdict, delivered on May 8 by Judge Lionel Persey KC, grants Afreximbank’s request for a summary judgment after South Sudan and its central bank failed to respond to court proceedings or even attend hearings. The loans, totaling $63 million, $250 million, and $400 million, were originally intended for trade infrastructure and COVID-19 relief. Despite initial repayments, South Sudan defaulted on the debt by 2023, prompting Afreximbank to sue. The court ruled that the defendants had “no real prospect of successfully defending the claims,” citing South Sudan’s silence and repeated failure to engage—even through its London embassy. What’s at stake? The judgment could have far-reaching consequences for South Sudan, already grappling with economic instability, regional violence, and a volatile oil market. A prior attempt to restructure the debt via crude oil shipments collapsed amid what the government called “unforeseen circumstances,” including devastating floods and conflict. Why it matters: With tensions rising and U.N. officials warning of a potential return to civil war, this ruling adds fuel to an already dangerous fire. Afreximbank is now expected to push for enforcement in other countries where South Sudan holds assets. Stay tuned for more updates as this story develops. Follow South Sudan 24 #southsudan #southsudan24 #southsudannews #SalvaKiir #SS24 #riekmachar #SPLM #Nasir #Ulang