“If there is no money in the bank don’t be surprised,” Marial said last week, saying that may be Khartoum may be reluctant to send more Sudanese Pounds. “But don’t be worried because in 2 to 3 weeks we will be able to have a new currency.”
The new national currency for Southern Sudan hits the market this month, earlier than many people had expected.
New Times learnt last week that the deputy Governor of the Bank of Southern Sudan, Elijah Malok, has been shuttling in and out of Juba during the past two weeks as the north and south negotiate final currency arrangements post-July 9. The GONU will still be in charge of the Sudanese Pound a few weeks post-Independence, but they must begin to slowly withdraw the currency, a source said. The two must also agree the exchange rate between the two currencies. South Sudan has six months to switch from the Sudanese Pound to the South Sudanese Pound – or SSP.
During that time the GONU will slowly withdraw its Pound. Information Minister Barnaba Marial Benjamin last week said the change over, of currency after South Sudan’s Independence could lead to cash shortages as the government of Khartoum withdraws its money.
“If there is no money in the bank don’t be surprised,” Marial said last week, saying that may be Khartoum may be reluctant to send more Sudanese Pounds. “But don’t be worried because in 2 to 3 weeks we will be able to have a new currency.”
IN OTHER NEWS:
We’ll improve business environment, says Manoa
BY A CORRESPONDENT
Ministry of Commerce and Industry Undersecretary Elizabeth Manoa Majok has said the ministry plans to create an enabling environment for business as the ministry finalized a strategic plan after independence next week. The workshop was attended by representatives from various GoSS ministries who contributed with ideas to the strategic plan, Bakhita Radio reported.
The ministry’s new vision, the blue print following independence, will see South Sudan full industrialized and intergrated in global trade.
