South Sudan To Introduce Lower Denomination Currency In Form Of Coins “We have heard from the Minister of Finance and the Governor of the Bank of South Sudan on the introduction of coins into the circulation of our money in the Republic of South Sudan. And that is the 50 coins, 20 coins and 10 coins” 08 June 2015
By Jok P Mayom *JUBA, 05th June 2015 [Gurtong]*-South Sudan is set to introduce lower denomination coins on the 4th of July during the commemoration of the Independence Day. Dr. Martine Elias Lomuro, Cabinet Affairs Minister told reporters last week on Friday during the Council of Ministers meeting that the coins will be in 50, 20 and 10 piasters. “We have heard from the Minister of Finance and the Governor of the Bank of South Sudan on the introduction of coins into the circulation of our money in the Republic of South Sudan. And that is the 50 coins, 20 coins and 10 coins” said Lomuro adding that “The plan is to introduce it during the celebration of the 4th Independence celebration.” He also said that the Council of Ministers discussed on the preferred logos to be used on the coins. “The council discussed thoroughly on the development, design and the logo that this coins will carry. We have noticed that the logo for Greater Equatoria is right as the symbol for Greater Equatoria and the Logo for Greater Bahr el Ghazal is correct. But the logo for Greater Upper Nile is to be revisited” he explained. Minister Lomuro said the logo on the Greater Upper Nile coin did not reflect the traditional symbol that represents Greater Upper Nile, therefore the council of Ministers requested that it be revisited and changed accordingly. The Central Bank Governor, Kornelio Koriom Mayiik in September 2013 announced the bank’s plans to introduce coins as part of the South Sudan currency. Kornelio Koriom said that small denomination notes have of recent proven unpopular. “They are created for those who will buy needles, those who will buy shirt buttons, those who will buy tobacco and so many other small things.” Said Kornelio. The coins are believed to be necessary for providing change and to ensure that money is divisible. Rounding up of prices, he said, was regressive and hurts those least able to afford because they make small cash purchases. After South Sudan gained its independence in July 2011, the government introduced its own currency, the South Sudan Pounds ousting the Sudanese currency. Official notes launched by President Salva Kiir a month after the independence at the Central Bank were introduced ranging from 1, 5, 10, 25, 50 and 100 South Sudanese Pounds or SSP notes. The introduction of the coins follows complains raised by citizens over the absence of small denominations to buy items less than 1 South Sudan Pounds. The Weekly Council of Ministers was chaired by President Salva Kiir Mayardit and was attended by Cabinet ministers. ------------------------------ [image: Bookmark and Share] <https://www.addthis.com/bookmark.php?v=250&pub=xa-4a8952f0662ccc6f> Posted in: Home <http://www.gurtong.net/ECM/Editorial/tabid/124/ctl/CategoryView/mid/519/categoryId/1/Home.aspx> -- To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] Visit this group at https://groups.google.com/d/forum/southsudankob View this message at https://groups.google.com/d/msg/southsudankob/topic-id/message-id For more options, visit https://groups.google.com/d/optout --- You received this message because you are subscribed to the Google Groups "South Sudan Info - The Kob" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/SouthSudanKob. To view this discussion on the web visit https://groups.google.com/d/msgid/SouthSudanKob/CAJb14opiGKULqfLvmWmMsO6Az6UD_9kwikiwTmrTOJCDM-hBDw%40mail.gmail.com. For more options, visit https://groups.google.com/d/optout.
