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Somali Government Unveils New Currency Printing Timelines
Africa

Somali Government Unveils New Currency Printing Timelines

The Minister of Finance Abdirahman Duale Beyle has detailed the latest developments on the printing the new Somali Shilling, which has already been okayed by the Federal Government. Mr Duale Beyle said the Ministry was still mobilising cash for printing new currency since the Somali Government still has a large amount of debt owed. Nonetheless, the Minister gave an assurance the new currency will be printed in the course of the year. The ministerial statement follows a crucial meeting with the World Bank (WB) and the International Monetary Fund (IMF) at the Brussels conference. Printing of the new currency is part of the government’s plan to boost the economy and replace the defaced currency notes in circulation.