Should this current Government introduce a new Somali shilling?

[DoctorKenney]

Anyone who's been to Somalia knows how difficult it is to do business with the almost-worthless Somali Shilling, to the point where all major transactions are done through dollars, not shillings.

 

Now, knowing all this...should the current Government reintroduce a new Somali shilling, with different denominations and a new exchange rate? (eg. 1 US Dollar= 50 Shillings)

 

It would be far easier to do business in the country, civil servants and soldiers can be paid with this new currency, and the benefits would outweigh the costs.

 

There could be a Government decree, telling everyone who owns Somali Shillings to exchange their old currency for the new currency at the nearest Bank.

 

It could be like 1 US Dollar = 50 Somali Shillings. And then as the Somali economy grows and expands, the Shilling would slowly gain value until it's on par with major world currencies.

 

Anyone knows how painful it is to do business in Somalia when you're forced to use US Dollars for all major transactions.

[Tillamook]

First of all this current government does not YET have the necessary legitimacy and nationwide public trust to implement a successful re-introduction of the Somali Shilling. Secondly, to successful reintroduce this currency the government must focus on revamping all the sectors of the economy so as keep inflation at bay.

[DoctorKenney]

Yeah I definitely understand. First this Government should focus on actually having full control over its borders, and having real legitimacy, before we even begin talking about new currencies.

 

Things in Somalia are moving too slow for my liking. We're moving at a snails pace and accomplishing the most basic tasks is taking far too long