S. Sudan bank governor denies introducing new bank note

November 26, 2016 (JUBA) – The Governor of the Central Bank of South Sudan (CBoSS) has dismissed as false reports alleging that the bank was printing new notes with the denominations of 200, 500 and 1,000.

Speaking at a news conference on Friday, Governor, Kornelio Koriom Mayiik, described these reports as “baseless and misleading”. He urged the public to not take the reports as credible.

He says the bank has no plans to print, replace or change the current banknotes.

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

The bank, he explained, is only injecting new notes into the market to replace the damaged ones and those that are worn out.

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

Last July, the National Bureau of Statistics said the inflation in the five-year old country reached an annual rate of 661.3 percent.

The fall of oil prices and the armed crisis since three years have ruined the country and stopped development plans.

UN agencies say 4.8 million people in South Sudan are affected by the food insecurity.

(ST)