Interviews

New banknote symbolizes weakening economy

Image of new 500 banknote.

The Bank of South Sudan has announced the introduction of a new banknote of 500 pounds as a legal tender in the country.

The principal features of the new bank note include a water mark portrait of Dr John Garang de Mabior with a dominant color of light green, measuring 154 by 79.5 millimeter.

On the other side, the wordings include the “Bank of South Sudan” printed on the upper part and the face value of the note in bold is written horizontally in each corner.

Other wordings on the obverse include two signatures and a security strip near the middle of the note with the year 2018 written on the right lower corner.

While on the reverse side, the specifications of the new bank note include the Nile River, the bank of South Sudan printed on the upper part and a gold colored iridescent band 500 written in the middle.

The new 500 bank note is expected to be in circulation soon.

However, commenting on the introduction of the new banknote, Economist Garang Atem said the move by the Central Bank will address the cash load, but not the inflation.

He spoke to Eye Radio’s Rosemary Wilfred.