Sudan to get new currency after South split

AP News
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Posted: Jul 12, 2011 8:32 AM
Sudan to get new currency after South split

Sudan's president says his country will issue a new currency following the loss of oil revenues resulting from South Sudan's independence last week.

Omar al-Bashir also told the National Assembly in Khartoum that his government will work with the newly independent South Sudan to resolve outstanding issues.

South Sudan became officially independent from the north on July 9, breaking away after more than 50 years of on-and-off war.

More than 75 percent of what was Sudan's daily oil production comes from the South, though there are no refineries there and the South has to send oil exports through the north.

The two nations are still at odds over an oil-rich border region. Al-Bashir says such issues would be resolved through "mutual respect."