The Bank of South Sudan had on Tuesday introduced an otherwise a shocking denomination: 1000 South Sudanese Pound note which is already in circulation around Juba.
The confusion surrounding the news soon filled the internet and South Sudanese had their usual criticism.
But as of today, a Central Bank employee who spoke to Ramciel Broadcasting on condition of anonymity revealed that the note is just the beginning as there are even much more thicker notes of higher values that will be printed for circulation.
“We thought at the beginning of changing the currency but it was of no use as this could have inflicted a much economic disaster. It was then good to print the 1000 notes for circulation as this will curb the economic fall.” He said.
“But this is just the beginning. The 1000 note will do less of what we expect. We are likely to print 2,000 ssp and 5,000 ssp in the second phase of the economic transformation.” He added.
When asked if the denominations were to be like the Ugandan shillings, the man declined saying South Sudan is a different country and that it has her own ways of dealing with her things.
“We may not necessarily embrace the new change. But we have different way to handle our things and believe me, we are not going the Ugandans’ way,” said the man.
South Sudanese have decried the change and took the event as dangerous as it appears. ‘It is totally going to sabotage the already weaning economy’ is the popular belief at the moment.
Slowly, South Sudan is beginning to shift its way of life to that of East Africans. The denominations already matching up with the Kenya’s shillings. And a lot of more similarities apart from currency could be drawn.
But it is not yet clear if South Sudan can catch up with the firm economies around east Africa like Rwanda and Kenya.