​Somalia: traders reject printed currency, local admin reacts

Puntland

GAROWE, Puntland- Municipal authorities in Garowe has warned local traders against separation of Somali Shillings both new and old, and called for the use of the currency, Garowe Online reports.

Speaking to reporters, the secretary of the local municipality in Garowe, Abdulqafar Abdirahman said his office has received complaints from residents about the crises of money rejection in the city's markets.

"In the past few days, traders in the market in Garowe, have been selecting the one thousands Somali shilling notes between old and new ones. We don't want this trouble to continue," he said.

Abdirahman added that this problem will lead to an economic collapse to the country, and said that there are traders wanted to create inflation crises in the markets by rejecting a section of the currency.

"We met with different traders at Inji market in Garowe on Wednesday, and discussed about the problem of the use of the 1,000 Somali Shilling and finally agreed to solve the issue as quickly as possible," he said.

This came after the use of new currency was rejected in south and central regions in Somalia early this month, causing panic among the traders in Puntland, who began differentiating currency, discarding old ones.

Among issues that promoted Puntland Parliament lawmakers to overwhelmingly pass a motion of no confidence against the state cabinet last Tuesday, is for failing to solve the inflation and financial crises in the region.

GAROWEONLINE