South Sudan says North’s new currency is ‘economic war’

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Author: AP

Monday 25 July 2011

JUBA, South Sudan: A Southern Sudanese official says northern Sudan has declared “economic war” by violating an agreement and issuing a new currency just weeks after the two countries split.

Pagan Amum said Monday that many Southern Sudanese are still holding old Sudanese pounds. He says the northern government has declared those illegal tender.
South Sudan also released a new currency, also called the pound, shortly after its July 9 independence.
Amum says the north had agreed not to issue a new currency until six months after the south did. He says the move will cost the southern government at least $700 million.
Northern officials could not be reached for comment.
The two countries still have not resolved major issues including a disputed border region, oil management and revenues.

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