South Sudan to Launch New Currency

Posted July 11th, 2011 at 10:25 am (UTC-5)
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Newly-independent South Sudan says it will introduce its own currency next week, the latest step toward establishing the new nation.

Finance Minister David Deng Athorbei told reporters Monday that the first shipment of South Sudan pounds will arrive from a British printer on Wednesday.

He said the money will be distributed beginning July 18 and that government salaries for July will be paid in the new currency.

Athorbei said the new money will have a one-to-one value with the existing Sudanese pound, which continues to circulate in South Sudan for the time being.

Also Monday, South Sudan's vice president and government ministers were sworn in, one day after being appointed by President Salva Kiir.

Mr. Kiir named Riek Machar as vice president and appointed dozens of ministers and advisors.

Nhial Deng Nhial was named minister of defense, Deng Alor was named minister of foreign affairs, and Pagan Amum was appointed minister for implementing the CPA, the 2005 peace deal that ended Sudan's north-south civil war.

Disputes over that deal have heightened tension between Sudan and South Sudan, even though the Khartoum government has recognized South Sudan's independence.

In an interview Sunday, Sudan's President Omar al-Bashir indicated he would fight for the disputed and oil-rich Abyei region if necessary. But he told the BBC that he welcomes Ethiopian peacekeepers who will try to keep peace in the volatile region.

Mr. Bashir's forces seized control of Abyei in May, prompting tens of thousands of residents to flee southward. Sudan and South Sudan have since reached an accord to withdraw their forces from Abyei and to allow entry to the U.N.-authorized Ethiopian force.

The two Sudans still have to resolve other disputes over borders and sharing oil revenue. South Sudan now controls the bulk of the oilfields that once sat in the former unified Sudan.