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Koriom dispels new banknote rumors

Kornelio Koriom, Governor of the Central Bank, addresses a press conference in Juba - Nov 25, 2016. Photo by Obaj Okuj |Eye Radio

The Governor of the Central Bank says the bank is not printing any new notes with the denominations of 200, 500 or 1,000.

He describes the reports as baseless and misleading.

The governor, Kornelio Koriom, says there were rumors that bank intended to introduce new banknotes.

Mr Koriom says the bank has no plans to print, replace or change the current South Sudanese banknotes.

“It’s therefore unequivocally evident that these rumors are aimed at destabilizing the economy and create unnecessary panic among the population,” he told the media Friday.

Koriom stated that the bank is only injecting new notes into the market to replace the damaged ones and those that are worn out.

“The Central Bank is therefore requesting the general public not to get misled by these rumors,” he continued, “as we reiterate our commitment to keep the population informed about any possible changes on banknotes.”