By Lodu William Odiya
The Government of South Sudan has signed a Memorandum of Understanding (MoU) with De La Rue on currency management, in a move aimed at strengthening the management, security, and circulation of the South Sudanese Pound.
In a statement released by the Ministry’s communication department yesterday, the agreement was reached during a meeting convened by the Minister of Finance and Planning, Kuol Daniel Ayulo, and attended by the Governor of the Bank of South Sudan, Addis Ababa Othow, as well as representatives of De La Rue led by the company’s Chief Executive Officer, Clive Vacher.
The meeting discussed ways of strengthening fiscal and monetary cooperation between South Sudan’s financial institutions and De La Rue, a company with international experience in currency production and cash management.
“Following extensive deliberations, the Bank of South Sudan and De La Rue signed the MoU on a Currency Management Partnership,” the statement partly read.
Under the agreement, De La Rue will provide specialised technical expertise and support in key areas of the currency lifecycle, including currency planning and forecasting, quality management, and currency circulation.
The partnership is expected to improve the overall management of the South Sudanese Pound and boost public confidence in the country’s currency.
The agreement also paves the way for the Bank of South Sudan to build sustainable capacity in currency management and modernise its currency management framework in line with international standards and best practices.
Officials said the partnership would further strengthen the security, resilience, and integrity of the country’s monetary and fiscal system.
The move comes as the government seeks to enhance cooperation between the Ministry of Finance and Planning, the Bank of South Sudan, and international partners in improving the management of the country’s financial and monetary systems.
The meeting was also attended by the Deputy Minister of Finance and Planning, Thok Turuk Thok, the First Undersecretary for Finance, Malual Tap, and technical staff from both the Bank of South Sudan and the Ministry of Finance and Planning.