The newest African country, South-Sudan is facing a new war with Sudan over the old currency. Presently, there is about $2 billion old Sudanese pound circulating in South Sudan’s fledgling economy, while Sudan insists that it will not take part in redeeming the currency from the economy of its neighbor.
South Sudan, which split from Sudan on July 9, launched its new currency in mid-July. Sudan later launched its own too.
South Sudan is worried that the old notes is flooding its economy and soon, both countries will consider the notes illegal.
“We did agree that after launching our currency, we would use the Sudanese pounds for a period of about six to nine months. However, while we were about to do it, we ran into some disagreements with Khartoum on currency redemption for the old notes,” said deputy governor for South Sudan’s Central Bank, Korenilius Koryom.