InfoAnda - Sudan, South Sudan plan new currencies after split |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

France's Sarkozy narrows Hollande's second round poll lead | | 29 March 2012
Yahoo CEO interested in social networks, search | Technology | | 4 March 2009
North Korea to try U.S. journalists as launch nears | International | | 31 March 2009

Ashley Tisdale sheds Disney image in new Aliens | Entertainment | | 30 July 2009

Forum Views () Forum Replies ()

Read more with google mobile : Sudan, South Sudan plan new currencies after split |

Edition: U.S. Article Comments (0) Slideshow Follow Reuters Facebook Twitter RSS YouTube Read News Corp may be at risk for U.S. probe over bribery 4:31am EDT WRAPUP 9-Obama, lawmakers fall short on US debt deal 11 Jul 2011 Euro shaken by debt crisis; dollar benefits 11 Jul 2011 Exclusive: Apple chief patent lawyer to leave 6:41am EDT Wall Street shares down, led by Nasdaq 10:04am EDT Discussed 112 Obama, lawmakers meet for 75 minutes on debt impasse 80 WRAPUP 1-Taxes still a stumbling block in U.S. debt talks 64 Obama faces new obstacles in high-stakes debt talks Watched A Tokyo-Paris flight in under three hours on the horizon Fri, Jun 24 2011 War of words heat up U.S. debt fears 2:52am EDT Obama challenges Republicans on debt talks Mon, Jul 11 2011 Sudan, South Sudan plan new currencies after split Tweet Share this Email Print Related News UPDATE 2-South Sudan to circulate new currency in week-minister Mon, Jul 11 2011 Analysis: Sudan's smooth separation masks messy divorce Sun, Jul 10 2011 Independent South Sudan "free at last" Sat, Jul 9 2011 U.N. votes for South Sudan peacekeeping force Fri, Jul 8 2011 South Sudanese dance to celebrate independence Fri, Jul 8 2011 Analysis & Opinion As Vatican readies to recognise South Sudan, a look back at tense 1993 papal visit How Ecuador sold itself to China Related Topics World » 1 / 2 Sudan's President Omar Hassan al-Bashir (C) addresses the parliament in Khartoum July 12, 2011. Sudanese President Omar Hassan al-Bashir said on Tuesday the north will launch austerity measures to compensate for the loss of oil revenues after the south's secession and bring in a new currency. Credit: Reuters/Mohamed Nureldin Abdallah By Ulf Laessing and Jeremy Clarke KHARTOUM/JUBA | Tue Jul 12, 2011 9:50am EDT KHARTOUM/JUBA (Reuters) - Sudan's president on Tuesday said the country would launch a new currency, a day after newly independent South Sudan confirmed it would do the same, as both states worked to disentangle their economies after the split. South Sudan declared independence from the rest of the country on Saturday at the climax of a 2005 peace deal that ended decades of civil war with the Khartoum government. Analysts said it was crucial the two countries coordinated their currency launches closely, to avoid future disputes between the two former foes. But South Sudan's Central Bank Governor Elijah Malok told Reuters he had not been informed about Bashir's plan - and the key issue was how the south would now redeem up to 2 billion old Sudanese pounds still circulating in its economy. Sudan President Omar Hassan al-Bashir on Tuesday told the Khartoum parliament he would bring in a raft of austerity measures to compensate for the loss of southern oil. The south took about 75 percent of the country's 500,000 barrel-a-day oil reserves with it when it left. Oil is vital to both economies. "The package of the economic measures includes issuing a new currency in the coming days," Bashir said, without giving further details. On Monday, South Sudan's finance minister said it would start circulating its previously announced new South Sudan pound next week - much earlier than expected - pegging it at a one-to-one value with the existing Sudan pound. South Sudan's central bank governor Malok had said it would take up to three months to replace the Sudan pound with the new southern currency. Malok did not give a date when the south might remove the peg with the existing north Sudan pound and take more control over its economic destiny. After Bashir's announcement, Malok told Reuters he had no information on the Khartoum decision. "It will not change our plans. The matter is what to do with our old currency," he said. ECONOMIC PATH Sudan and South Sudan's economies are likely to remain closely tied together in the coming years - the south has most of the oil, but currently depends on the north's pipelines and port to get it to market. But their economic paths will likely diverge. Without its southern oil reserves, Khartoum says it will have to diversify its economy into agriculture, gold and other industries. It is still under crippling U.S. trade sanctions and saddled with a near $40 billion national debt. Economic analyst Abda al-Mahdi told Reuters the introduction of a northern currency could have a disruptive impact on the south. "It can have an impact but there is still time. A currency will not be introduced overnight ... It will be gradually exchanged. The threat can be reduced greatly." Mahdi said Bashir's announcement looked like a defensive move, reacting to the south's own currency plans. "The north is launching its own currency to safeguard its interests after the south said it would start its currency. The question is what happens to the (Sudan) pounds after the south withdraws the notes circulating there. The worst thing would be if the south throws them back into the market in the north." The Sudan pound has been falling on the black market in Khartoum for weeks as economists say foreign currency inflows needed for imports will decline alongside falling oil revenues. Khartoum and Juba still have to agree on a range of issues such as handling oil revenues, assets and debt as well as ending violence in parts of their poorly defined border. The Khartoum government fought southern rebels for all but a few years from the 1950s up to the 2005 accord in civil wars fueled by ethnicity, perceived repression of the south, religion and oil. The conflicts killed an estimated 2 million people and forced 4 million to flee, destabilizing much of the surrounding region. Khartoum agreed to drop its dinar currency under the 2005 deal and revert to the Sudanese pound, the currency under British colonial rule. Many in the north resented the switch. (Additional reporting by Alex Dziadosz in Juba; Writing by Andrew Heavens; Editing by Alison Williams) World Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Tuesday, 12 July 2011
FBI says unsuspecting commuters carry drugs over Mexican border
UK'S ex-PM Brown says he is a suspected phone hacking victim |
Gas prices changin driving, spending habits of most Americans
Race is on for regional, senior bowlers to qualify for Dick Weber PBA Playoffs
Ex-media tycoon Black to return to jail on September 6 |
Rebecca Black to release official follow-up to 'Friday'
50 dead in Russian cruise ship sinking
Russian space debris being monitored after Atlantis docks with ISS
On-stage fire cuts short Rihanna concert
French police interview Strauss-Kahn accuser Banon |
After much scrutiny, HHS releases health insurance exchange rules
'Acute social marginalization' of Dom community
Israel passes law punishing settlement boycotters |
NHL, NBC announce cooperative media sales deal
Uganda to check Museveni birthday cake for poison |
Apple files fresh patent complaint against HTC |
Target to sell new electronic reader |
RIM annual meeting likely to exacerbate investor ire |
Courts approve Nortel patent sale to Apple/RIM group |
Tainted electronics pose security threat: U.S. rep |
Brad Paisley, Carrie Underwood to host CMA Awards |
Brother of Afghan president killed: official |
Russia says 128 likely dead in Volga river accident |
Gunmen abduct two Americans in southern Philippines |
Suspected U.S. missile strikes kill 30 militants in Pakistan |
Egypt protesters reject PM offer of cabinet reshuffle |
Federal Reserve to retain record-low interest rate
Chinese court jails six for role in Guangdong riot |
HOLD: Somalia’s pirates : Another ill-fated youngsters
NL's Roy Halladay-AL's Jered Weaver take hill for All-Star Game
The IHeartRadio Music Festival announced
WikiLeaks' Assange in UK court extradition appeal |
Ex-PM Brown claims reporters from Sunday Times, The Sun and others illegally obtained personal information
France's Sarkozy says 1,000 troops to leave Afghanistan |
Coheed and Cambria bass player arrested
No-hio State: standout offensive tackle switches to Michigan
Blacklisted group says Pakistan needs peace, prosperity |
Exclusive: Key Apple patent lawyer to leave, source says |
Sprint subpoenaed by 9 states over AT&T's T-Mobile bid |
Retailers, cash rich, to spend on IT: report |
HTC down after Apple's new patent lawsuit |
Toshiba wants to be top maker of flash memory soon: president |
Arnold Schwarzenegger back in Hollywood saddle, despite scandal |
Rock musician uses cell phone stickup note in robbery |
Appeals court orders Administration to confirm stance on DADT
France says Libya political solution taking shape |
U.S. and France step up pressure on Syria's Assad |
Somalia’s pirates: Ransom cash 'Easy come easy go'
Sudan, South Sudan plan new currencies after split |
Too soon to blame climate change for drought
Turkana reels from severe drought
"Jersey Shore" star Vinny Guadagnino returns to show
Afghan President Karzai’s half-brother assassinated
Greek reporters accuse minister on police violence |
Post Hines Ward arrest: Steelers-Ravens rivalry heats up on Twitter
Black Eyed Peas announce they're taking a break
Runoff in California for contentious House race
U.N. says struggling with growing Somali exodus |
Refugee: "I'm doomed to life at way station"
WikiLeaks' Assange in UK court extradition appeal |
Analysis: Doubt creeps in to tech valuations at Sun Valley |
Cisco could eliminate as many as 10,000 jobs: report |
Split Research In Motion in two, RBC analyst urges |
China says piracy problem not extremely serious |
Amazon seeks ballot measure to undo California tax |
EU court says eBay should protect trademarks better |
Sting and orchestra bring magic to Montreux jazz fest |
Argentine singer Cabral killed by gangs: Guatemala |
Rock musician uses cell phone stickup note in robbery |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01