The new bank notes of South Sudanese Pounds launched on Monday by the Central Bank will have no impact on reducing the biting economic crisis, a senior economist has confirmed.
The move by the Central Bank to introduce new notes of different colours is a waste of time and resources, James Garang Alic of the Ebony Centre for Strategic Studies says as Radio Bakhita reports.
The introduction of lower denominations could have been helpful if it was done much earlier, Garang says.
The Central Bank on Monday launched new ten and 20 South Sudanese Pounds’ notes.
A new One SSP coin has been introduced to replace the paper note.
The National Bureau of Statistics recorded a high inflation rate of 202.50 percent in South Sudan as of February this year.