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Somalia : MINISTRY OF FINANCE to produce new SOMALIA shilling.

The Ministry Of Finance Hussein Abdi Halane announced that plans are in progress for the production of a new Somali shilling.

Halane stated that The strategy to manufacture the new currency is meant to revive the collapse of the Somali shilling that was resulted by the more than two decades of the civil war in the country.

We have decided to produce the current Somali shilling as we work on the implementation of new Somali currency which will take time, he said.

Currently our ministry is involved in the plans to revolutionize the Somali currency after which it will present to the parliament for debate, said Mr. Hussein, They have involved the World Bank and international monitory fund IMF to help in the process so as to achieve the goals.

Somali shilling which is still widely used in the country is one of the most affected and inflated currency in the world after Zimbabwean dollar.

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Publication:Mena Report
Date:Jun 16, 2014
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