Somalia which is long chaotic country now is waking up at the grubby and bloody civil war with new currency being planned to release soon to control random inflation that had devastated the country’s economy.
Central bank director Bashir Eise Ali has said that technical preparations has been completed for the currency, noting significant progresses being achieved in recent years.
“We have prepared all the issues and all the basic groundwork, and put in place the technical requirements,” Eise has said.
He said that new bank notes have been severally postponed due to erratic economic challenges in the country, saying donors will sponsor the project to revive the nation’s collapsing economy.
Somalia elected Mohamed Abdulahi Farmaajo Farmaajo who is extensively pledged to fight against corruption which is said was rife during the country’s presidential elections.