News / Africa

South Sudan Prints New Currency Ahead of Independence

Printing company in Europe has begun printing South Sudan Pound, to be released on Independence Day July 9th.

South Sudan Finance and Economic Minister David Deng Athorbei
South Sudan Finance and Economic Minister David Deng Athorbei
Charlton Doki

The government of South Sudan is already printing a new currency ahead of the region’s official declaration of independence in July.

South Sudan’s finance and economic planning minister, David Deng Athorbei told reporters in Juba that the new currency is being printed in Europe, by a company he wouldn’t name, and will be held by the printer until July 9th, the day the south’s independence is expected to be declared.

“We are printing a new currency but we are still maintaining some secrecy because we are not yet an independent state,” Athorbei said during the government’s weekly press briefing on Tuesday.

During post-referendum talks in Addis Ababa early this month, delegates from the north’s ruling party, the NCP and the south’s ruling party, the SPLM, agreed that South Sudan will have a its own new currency after independence.

Athorbei said his ministry had signed a contract with a European company that will print the currency adding, “They will release the currency to us on one condition that by the time we are recognized as an independent state by either the United States or Great Britain, then they will release the currency.”

He said the government of South Sudan wanted to have the new currency ready for circulation, just in case the government in the north decides to issue a new currency for the north on the day the south officially secedes.

“We could have waited until our independence and come out openly but that will delay our currency because we do not know, maybe on the 9th the north may issue a new currency,” Athorbei explained.

The issuance of a new currency by the north would tremendously disrupt the south’s economy, which is intertwined with that of the north.

The finance minister described the features of the currency being printed, which he said will be called the South Sudanese pound.

“The design of the currency is this way; on one face is the face of Dr. John [Garang]. On the other face on many different denominations, is the face of various issues covering our culture, mainly our heritage, our wealth, oil wealth, the Nile, our rapids like the Fulla Rapids, and animals and so on and so forth,” he described.

Finance officials in north Sudan had earlier hinted they would discontinue the use of the Sudanese Pound after the south officially becomes independent and reintroduce the old currency, the Sudanese Dinar.

Analysts estimate the reintroduction of the Pound in 2007 cost Sudan around a 150 million US Dollars, an expense they say the north may not be able to afford given its current economic crisis.

The former governor of Sudan’s Central Bank, Sabir Mohamed al-Aassan, said before leaving office that South Sudan had refused to heed to advice by experts to form a monetary union with the north.

North Sudan has agreed to retrieve any quantity of Sudanese pounds circulating in the south once the latter introduces its own currency.

Financial experts estimate that only 10 percent of Sudan’s money currently circulates in the south.

You May Like

Lebanese Media Unite to Support Palestinians in Gaza

Joint newscast billed as Arab world’s first unified news bulletin in support of Hamas-controlled Gaza Strip More

Photogallery Australian PM Alleges ‘Coverup’ at MH17 Crash Site

Meanwhile, Russia's ambassador to Malaysia denies plane's black boxes were opened before they were handed over to Malaysian officials More

Despite Advances in AIDS Treatment, Stigma Lingers

Leading immunologist tells VOA that stigma is often what prevents those infected with disease from seeking treatment More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
IAEA: Iran Turns its Enriched Uranium Into Less Harmful Formi
X
July 22, 2014 10:26 AM
Iran has converted its stockpiles of enriched uranium into a less dangerous form that is more difficult to use for nuclear weapons, according to the United Nations’ Atomic Energy Agency. The move complies with an interim deal reached with Western powers on Iran's nuclear program last year, in exchange for easing of sanctions. Henry Ridgwell reports for VOA from London.
Video

Video IAEA: Iran Turns its Enriched Uranium Into Less Harmful Form

Iran has converted its stockpiles of enriched uranium into a less dangerous form that is more difficult to use for nuclear weapons, according to the United Nations’ Atomic Energy Agency. The move complies with an interim deal reached with Western powers on Iran's nuclear program last year, in exchange for easing of sanctions. Henry Ridgwell reports for VOA from London.
Video

Video Relic of Saint Draws Catholics Worried About Immigration Issue

A Roman Catholic saint who is a figure of devotion for those crossing the border into the United States is attracting believers concerned about the plight of undocumented immigrants. Mike O'Sullivan reports from Los Angeles, where a relic of Saint Toribio has drawn thousands to local churches.
Video

Video Ukraine Rebels Surrender MH17 Black Boxes

After days of negotiations, a senior separatist leader handed over two black boxes from an airliner downed over eastern Ukraine to Malaysian experts early Tuesday. While on Monday, the U.N. Security Council unanimously demanded that armed groups controlling the crash site allow safe and unrestricted access to the wreckage.
Video

Video In Cambodia, HIV Diagnosis Brings Deadly Shame

Although HIV/AIDS is now a treatable condition, a positive diagnosis is still a life altering experience. In Cambodia, people living with HIV are often disowned by friends, family and the community. This humiliation can be unbearable. We bring you one Cambodian woman’s struggle to overcome a life tragedy and her own HIV positive diagnosis.
Video

Video Nature of Space Exploration Enters New Age

Forty-five years ago this month, the first humans walked on the moon. It was during an era of the space race between the United States and the Soviet Union. World politics have changed since then and -- as Elizabeth Lee reports -- so has the nature of space exploration.
Video

Video Chicago’s Argonne Lab Developing Battery of the Future

In 2012, the U.S. Department of Energy’s Office of Science awarded a $120 million grant to a new technology center focused on battery development - headquartered at Argonne National Laboratory in suburban Chicago, Illinois. As VOA’s Kane Farabaugh reports, there scientists are making the next technological breakthroughs in energy storage.
Video

Video In NW Pakistan, Army Offensive Causes Massive Number of Displaced

Pakistan’s army offensive in North Waziristan has resulted in the large-scale displacement of the local population. VOA's Ayaz Gul reports from northwest Pakistan where authorities say around 80 percent of the estimated 1 million internally displaced persons [IDPs] have settled in Bannu district, while much of the remaining 20 percent are scattered in nearby cities.
Video

Video Kurdish Peshmerga Force Secures Kirkuk, Its Oil

The Kurdistan regional government has sent its Peshmerga troops into the adjacent province of Kirkuk to drive out insurgents, and to secure the area's rich oil fields. By doing this, the regional government has added a fourth province to the three it officially controls. The oil also provides revenue that could make an independent Kurdistan economically strong. VOA’s Jeffrey Young went out with the Peshmerga and filed this report.
Video

Video Malaysia Reeling: Second Air Disaster in Four Months

Malaysia is reeling from the second air disaster in four months involving the country’s flag carrier. Flight 340 vanished in March and despite an extensive search, no debris has been found. And on Thursday, Flight 17, likely hit by a surface-to-air missile, came apart over eastern Ukraine. The two incidents together have left more than 500 people dead. VOA Correspondent Steve Herman reports from Kuala Lumpur.

AppleAndroid