President Deni: Stopping Somali shilling saved Puntland from economic collapse

[Deeq A.]

Garowe (HOL) — Puntland President Said Abdullahi Deni has defended the 2021 decision to stop using the Somali shilling, asserting that the shift to the U.S. dollar saved the region from economic instability and widespread poverty. "We have $7 million worth of Somali shillings stored with no way to use them. There's no central government to exchange it for other currencies. If we hadn't taken this step, our people would be impoverished today," Deni stated.

Source: Hiiraan Online