The Horn of Africa States: Demonetization Processes

[Deeq A.]

In 2020, Ethiopia carried out a demonetization of its currency and Somalia has recently announced that it would carry out a demonetization of its currency. Demonetization is the process where governments withdraw bank notes and/or coins from the market and replace them with new ones. This is generally done by least developing countries for either economic or political reasons.

Source: Hiiraan Online