In Other News…

• The Central Bank of Belize is to issue a new currency series, which will feature images of national heroes rather than the head of state, King Charles III.

The proposed subjects for the portraits include George Cadle Price, who led the movement for independence from Great Britain, and was the country’s first Prime Minister when independence was secured in 1981. They also include Philip Goldson, newspaper editor, activist, and politician described as the ‘Father of Democracy’ in Belize.

The change does not affect the country’s coins, which will continue to carry the effigy of the late Queen Elizabeth II on all bar the highest denomination (the $2).

The new notes – in denominations of 2, 5, 10, 20, 50 and 100 Belize dollars – are expected to go into circulation this November.

• The Central Bank of Myanmar will issue a new circulating commemorative banknote worth twice as much as the current highest denomination, according to the country’s state-run media, in what is seen as a reaction to economic instability following the military coup of 2021.

The current highest denomination is the 10,000 kyat. The new 20,000 kyat will depict the Yadana white elephant on the front, and the Sagaing and Awaywaddy bridges on the reverse.

Distribution of the note from the offices of the Bank will be limited to three per person in exchange for unfit notes to the same value.

• The Bank of Uganda is considering the phasing out of the 1,000 shilling banknote. The note is heavily used for transactions, but soiling and frequent replacement has pushed up costs. According to the Bank of Uganda, printing and circulation costs have risen by 16.5% recently.

The decision on whether to discontinue the note will be taken after a cost-benefit analysis has been conducted.

If it is dropped, then Uganda already has a circulating commemorative coin of the same value, which was introduced in 2012.

• The next and fourth note in Jordan’s new series – the 10 Jordanian dinar (JD) has now been issued. The predominantly blue note features a portrait of King Talal bin Abdullah, who reigned briefly from 1951 to 1952, but, during that time, established the country’s modern constitution. In addition, the design includes a vignette of an amphitheatre, the Roman Theatre of Amman, on the reverse. The key security features are SPARK® on the front and a 4.5mm wide MOTION® Switch thread on the reverse.

The JD 1, 20 and 50 notes have already been issued. The only note remaining to complete the series is the JD 5. The Central Bank of Jordan has yet to confirm the date of its issue.

• Belize is not the only country to dispense with the portrait of the British monarch on its notes. The council members of the Eastern Caribbean Central Union (ECCU) have voted to remove Queen Elizabeth II’s image from the Eastern Caribbean dollar. The decision was taken during the 105th Meeting of the Monetary Council held on 21 July in Saint Vincent and the Grenadines.

The late Queen’s portrait, which has featured on the currency since its introduction in 1965, will be replaced by the ECCU logo, although not immediately. The ECCB has announced that there will be a thorough process of public consultation that will last until the end of year, with members of the public invited to share their opinions and comments on the use of the logo, or any other suggestions.

During this period, the ECCB will invite members of the public to share their opinions and comments on the proposal to replace Queen Elizabeth II’s image with their logo. The institution is also open to receiving any other suggestions.

A final decision on the new image is expected to be made by February 2024, after considering the public’s feedback and suggestions.

The East Caribbean dollar is denominated in notes of $5, $10, $20, $50 and $100. A new series was introduced only recently, concluding in 2021 with the new $5. All the notes are printed on SAFEGUARD® polymer and are in a vertical orientation.