South Sudan to continue using Sudanese Pound up to a year if the South peacfully secedes

pound(Juba, NSV) - The governor of the Bank of South Sudan ,Malong Aleng, told reuters news that South Sudan can continue to use Sudanese pound for up to a year if South Sudan peacefully separates from Sudan. As Sudanese from all corners of Sudan head to the polls this April, a lot of expectations are in the air. However, the most significant phenomenon in the history of Sudan is the referundum vote in January 2010.

Aleng said that "If it is a peaceful separation of the south from the north there will be no reason why we would not use the present currency until further notice ... say six months or a year."

As South Sudanese decide the fate of the Africa's largest country, many questions remain to be answered. Will the vote be peacefull? Will South Sudanese really vote to separate from Sudan?

Studies being conducted by international bodies gives an overwhelming impression that South Sudanese will vote for independence. This leaves a lot of questions as to what will happen to the oil in the South?

While it is clear the oil belongs to the South by geographical location, it remains to be seen if the North will accept to peacefully hand over the control of the oil fields to an independent South Sudan when the country's economy depends on the oil exports.

Statements such as the one from Mr. Aleng could pacify would-be angered Northern Sudanese. This could create an atmosphere of good neighborliness. If the South continues to work in partnership with North Sudan, then the possibility of war could be reduced.

However, in case the use of Sudanese pound isn't going to be possible, Aleng argues that speedy creation of a new currency, or the use of US dollar could be necessitated.

The uncertainty is created by the more than 50 years of mistrust between the north and the south and the volatility created by post-secession atmosphere. What happened between Ethiopia and Eritrea has to be avoided.

knowing that South Sudan's economy is young and dependent on both the North and oil, a clever way to ensure the Southern economy doesn't collapse is paramount.

 

 

 


More Articles By This Author

Carjunctionadvert