Somalia to Print New Currency - Somalia's Central Bank Governor

Somalia is planning to print new currency in the coming months, the central bank governor Abdirahman Mohamed Abdullahi has said.

Speaking to state media on Friday, Abdirahman said that the government is planning to print new Somali Shilin currency which will be used in the coming months.

He also expressed optimism for next year's economic growth, although he said COVID-19 had affected global trade and human mobility.

Last year, former governor of Somalia Centra Bank Abdisalan Omer Hadliye alleged that Somali shilling notes printed by a german firm are idle in a warehouse in Sudan.

Since the collapse of the Somali government in 1991, the monetary system, as every other institution either disintegrated or fell into the hands of warlords and shady businessmen.

In Somalia, the U.S. dollar is widely accepted as a medium of exchange and there are also counterfeit Somali shillings currently in circulation.

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