Arab Today, arab today south sudan launches new currency
Last Updated : GMT 10:40:42
Arab Today, arab today
Arab Today, arab today

South Sudan launches new currency

Arab Today, arab today

Arab Today, arab today South Sudan launches new currency

Juba - AFP

South Sudan\'s President Salva Kiir launched the country\'s new currency on Monday and ordered government officials to repatriate funds, amid concerns about rampant corruption in the world\'s youngest nation. \"I want to sincerely advise all of you those of you who have money outside the country -- you bring your money back to this bank,\" Kiir said at the launch ceremony, at the Central Bank of South Sudan, attended by ministers and top government officials. \"I know people have very huge accounts outside the country. You repatriate this money,\" he added, in a short speech, before changing some of his personal cash into South Sudan pounds. The exchange rate with the former currency, the Sudanese pound, has been fixed at one to one. International Crisis Group warned in April, three months before the oil-producing country on July 9 declared formal independence from the north, about the potential for the large-scale diversion of state revenues for the personal enrichment of individuals in positions of power. Each note of the country\'s new currency carries the head of John Garang, the revered rebel leader who died just months after signing the 2005 peace accord that ended Africa\'s longest-running conflict and paved the way for nationhood. The central bank governor, Elijah Malok, said that Garang\'s image was a \"mark of respect\" for him and for the country\'s history. Malok appealed to the governors of South Sudan\'s 10 states to work with a technical committee, composed of bank and finance ministry officials, to ensure the swiftest possible circulation of the new money, to avoid the country being flooded with old Sudanese pounds. \"The danger is... if we don\'t change quickly and it is still a legal tender in the north, a lot of money will pour in and destroy our economy,\" he said. The Sudanese pound could be withdrawn from circulation within three months, he added. Last week, Sudan\'s President Omar al-Bashir said he would launch a new currency in the north \"in the coming days\" to replace the Sudanese pound, which has plunged in value over the past six months, mainly because of a surge in commodity prices and weak state finances. The difficulty of swiftly circulating the south\'s new currency has been compounded by the ongoing rainy season, Malok said, with many of the chronically-underdeveloped country\'s roads impassable at this time of year. Currency was one of a number of key outstanding issues that north and south failed to agree on prior to the country\'s partition.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south sudan launches new currency Arab Today, arab today south sudan launches new currency

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom, China plunges into snow biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom, China plunges into snow biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues

GMT 05:34 2017 Monday ,27 February

Brexit sows seeds of doubt for British farmers

GMT 06:38 2017 Sunday ,26 February

US rig count increases

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday