Home Business & Economy South Sudan to introduce higher denomination banknote amid soaring inflation

South Sudan to introduce higher denomination banknote amid soaring inflation

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South Sudan government announced the introduction of a new 500-pound banknote in view of the value of 100 note being eroded by inflation.

The East African country is facing an acute economic crisis due to the ongoing civil war.

In a statement issued on Friday, the Bank of South Sudan announced that the new banknote will be introduced very soon.

The higher-denominated currency features the image of John Garang de Mabior, the deceased leader of the Sudan people’s Liberation Movement (SPLM).

Last month, President Salva Kiir removed the governor Othom Rago Ajak and replaced him with Dier Tong Ngor.

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