Somalia to print its own currency again?

Somalia, the war-torn failed state in the Horn of Africa, is still planning to issue its own banknotes once more. The have expressed this wish already in 2013 and 2014 but now it might actually happen. The new notes would curculate alongside the US dollar which is now being used as the main currency in Somalia.  

"The International Monetary Fund is helping Somalia print and circulate the currency, Bashir Issa Ali, governor of Somalia's central bank, said Friday in an interview in the Kenyan capital, Nairobi. Somali shillings currently in circulation aren't printed by the federal government in Mogadishu and most are fake, Ali said. The new banknotes would be produced by "reputable companies," he said."

The new notes are predicted for early 2017. 

Steven Sunday 29 May 2016 at 1:37 pm | | news
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