while the regime in Khartoum is planning to ditch the Pound and revert to the Dinar of old …
CURRENCY REVISION FOR BOTH NORTH AND SOUTH
Information was leaked earlier in the week that the regime in Khartoum was making preparations to recall all Pound notes as they were preparing to revert to the Dinar as the unit of currency, after the South becomes independent.
The Pound was introduced as a ‘common’ currency when the South became semi-independent after the Comprehensive Peace Agreement was signed in January 2005, but the recent massive slide in value and currency restrictions imposed on the South’s business community and travellers by the Central Bank in Khartoum did little to make the Pound a currency of choice for the South. They too are expected to introduce a new currency after Independence, for one to further national integration of the new country and the other reason being to avoid the North swamping the South with a currency which printing press they still control exclusively. Economic sabotage of such a scale would be made nearly impossible by the South equally rejecting the pound and having their own new unit coming out and there is speculation they may change to a South Sudan Shilling, in line with the currencies of their major trading partners in the East African Community. Watch this space as more details emerge in coming weeks.