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Somalia's Central Bank Governor Abdirahman M. Abdullahi warns that ongoing drought could escalate the inflation rate to double digits.
Somali News

Somalia's Central Bank Governor Abdirahman M. Abdullahi warns that ongoing drought could escalate the inflation rate to double digits.

Somali Central Bank Governor says the ongoing devastating drought  in the country could balloon the country’s inflation to double digits. Abdirahman Mohamed Abdullahi made this pronouncement on Wednesday. According to Governor Abdullahi’s estimates, inflation could go up by 10 percent at the tail of this year. The Governor says this would be the highest level of inflation to be witnessed in Somalia in more than a decade. The Central Bank statistics has put the inflation rate currently being experienced in country at 6.7 percent. Abdullahi has sounded an alarm that more Somalis would be further plunged into poverty if the current adverse drought continues to persist. Somalia is currently grappling with the worst drought to be experienced in four decades following the failure of reins for four consecutive years. The debilitating Drought has caused huge human displacement, destroyed crops and decimated livestock. The Humanitarian agencies in the East African Nation have placed the figures of people affected by the drought at 7 million warning further that it could affect more people in the coming months.

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