Somali govt to print new currency

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Specimen of the new Somali currency. PIC | NATION MEDIA GROUP
Specimen of the new Somali currency. PIC | NATION MEDIA GROUP

Somalia’s Finance minister has announced that the government will print new currency notes to replace the old ones currently in use.

Mr Abdirahman Dualeh Beileh made the announcement in his office in the capital Mogadishu on Saturday.

The minister also displayed samples of the new notes, two specimens of the 5,000 and 10,000 shillings denominations.

“My government is determined to print new currencies of the Somali Shillings that include 5,000 and 10,000 denominations,” said Dr Beileh.

The new currencies will replace the old ones that were largely out of circulation. The 1,000 shillings denomination, which has been in use for the past two decades, is the most readily available of the current notes.

Efforts to introduce new currencies by successive Somali governments have hit a snag due to the debt relief conditions imposed by the international financial institutions.

The Finance minister did not specify the exact date of the currency printing.

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