Matt Richmond News
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Emmanuel Gambiri said an educated wife in his cattle-herding Mundari tribe in South Sudan costs 50 cows, 60 goats and 30,000 Sudanese pounds ($12,000) in cash.
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Sudan’s decision to introduce a new currency will cost newly independent South Sudan as much as $700 million, the secretary-general of the south’s ruling party, Pagan Amum, said.
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Newly independent South Sudan released its own currency today to banks in the capital, Juba, said Aggrey Tisa, undersecretary for planning in the Ministry of Finance.
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United Nations peacekeepers in South Sudan will have a stronger mandate to protect civilians than before the oil-rich south’s independence on July 9, said the head of the mission, Hilde F. Johnson.
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South Sudan’s state oil company, Nilepet, has formed a joint venture with Glencore International Plc to market its oil, the managing director of the company said today.
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South Sudan’s central bank plans to operate “a managed float” of the country’s currency, setting its exchange rate depending on the price of oil and the value of regional currencies, the bank’s president Elijah Malok said.
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South Sudan’s new currency, printed by De La Rue Plc, the world’s biggest printer of banknotes, will arrive on July 13, Finance Minister David Deng Athorbei said.
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The Republic of South Sudan will need about 20 years to build a properly functioning government, the World Bank’s acting country director for Sudan, Ian Bannon, told reporters today in the southern capital, Juba.
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The Republic of South Sudan was declared an independent nation today in the capital, Juba, as tens of thousands of people celebrated their freedom after almost 50 years of rebellion against the Muslim north.
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South Sudan’s opposition leader in parliament said government security forces arrested and beat him and seven other of his party members yesterday, two days before the region becomes independent.
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