Qoslaye and his HAG team are to print fake money

[Mooge]

lool. these people are in it for the money. wale kuwan wadanki wa ku xaareen.

 

Somalia plans to print new currency

 

Mogadishu, Somalia (HOL) -- The Minister of finance of the federal government of Somalia Hussein Abdi Halane revealed that his government was in the process of printing a new currency to prevent the Somali shilling from extinction.

Mr Halane said they thought either of two options; to reprint the previous Somali shilling or to issue a new currency.

The only note currently available in Somalia is the ‘One thousand note’ with no changes, because the smaller notes such as 500 Shillings, the 50 Shillings, and the 20 Shillings were not in use in Somalia for the past 15 years, while the 10 Shillings, and 5 Shillings notes and as well as the coins extirpated just nearly 24 years ago.

“It will take a long process to replace the currency, but we decided to reprint the former notes until we will have taken the last decision on whether or not to replace the Somali Shilling” the minister said.

He said his ministry already completed the plan and will take it to the cabinet for endorsement, before taking it to the parliament for the last go ahead approval.

In recent years, the use of USD was on the increase in Somalia where a cup of coffee costs one dollar.The mobile money transfer system replaced the use of Somali Shilling, as about 90% of the people are having their money in mobile phones to use for shopping, for eating at restaurants or even for public transport.

[Dalmar1]

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@Mooge

said:</cite>

lool. these people are in it for the money. wale kuwan wadanki wa ku xaareen.

 

Somalia plans to print new currency

 

Mogadishu, Somalia (HOL) -- The Minister of finance of the federal government of Somalia Hussein Abdi Halane revealed that his government was in the process of printing a new currency to prevent the Somali shilling from extinction.

Mr Halane said they thought either of two options; to reprint the previous Somali shilling or to issue a new currency.

The only note currently available in Somalia is the ‘One thousand note’ with no changes, because the smaller notes such as 500 Shillings, the 50 Shillings, and the 20 Shillings were not in use in Somalia for the past 15 years, while the 10 Shillings, and 5 Shillings notes and as well as the coins extirpated just nearly 24 years ago.

“It will take a long process to replace the currency, but we decided to reprint the former notes until we will have taken the last decision on whether or not to replace the Somali Shilling” the minister said.

He said his ministry already completed the plan and will take it to the cabinet for endorsement, before taking it to the parliament for the last go ahead approval.

In recent years, the use of USD was on the increase in Somalia where a cup of coffee costs one dollar.The mobile money transfer system replaced the use of Somali Shilling, as about 90% of the people are having their money in mobile phones to use for shopping, for eating at restaurants or even for public transport.

 

 

So The Government printing a new currency for Somalia's very old currency is stealing?!?!?

 

walee mooge you have so much cuqdad, i wonder if your were a victim or the son of a victim of the 90's war in xamar!

[DoctorKenney]

The way I understand this article: Somalia's Federal Government is going to replace the old currency with new currency notes? With new denominations?

 

Instead of the useless 1000 shilling notes, will Somalia finally have currency denominations like 1 shillings, 10 shillings, 50 shillings, etc.

 

I totally welcome such a development

[Mooge]

my friend Dr. Kenney, printing paper money ruins the country and has disastrous consequences for the economy niyoow. the inflation will ruin the country. top that, where does the new money end up? it will end up in the hands of few corrupt HAG members who gave up on the international community giving them free money because other countries are using accounting firms and are paying civil servants directly. they couldn't find another way to get money on their hands and they now came up with the most old reckless skeme known to corrupt officials which is to print more paper money. At the end of the day the poor somali people will pay and suffer. Central Bank accounts have been locked by international community and the guy running the bank is a putlander from garowe so he is not giving Damjadiid free money. qoslaye and his HAG damjadiid are now desperate for anything and they came up with this. lool.

 

Dr Kenney, as good as you like a somali goverment to form, this is not it niyoow. This is not a national government by any means. it is controlled by a group of corruption plagued HAG guys that world thought would help with the defeat of Alshabab. Instead, they are alshabab themselves and are defending, arming and creating alshabab to prolong the anarchy which they benefit from. without anarchy, their game is over. lool

 

ninyoow, this is a disaster. it will devastate and destroy the country but HAG doesn't care.

[DoctorKenney]

Mooge, destroying the livelihood of millions of Somalis through inflation is something I'd expect from some of these criminals in Somalia's Federal Government. In fact, every government in the world is guilty of this. The American dollar lost 98% of it's value since 1913 because of the Federal Reserve Bank and it's criminal policies. So I don't think Qoslaye and his crew would be any different.

 

Mooge, I would prefer that the Somali currency be backed by gold, but I'm not sure how realistic that would be. And every single country in the world uses paper currency, including the US Dollar and the Euro and the British Pound. So I'm not sure why the Somali Shilling would be an exception here.

 

I don't know why these politicians don't just overhaul the entire system and start from scratch??

 

Create a new currency in Somalia. Make the exchange rate, 1 US Dollar= 50 Somali shillings. And then start paying Somali civil servants with that cash.

 

We need to get rid of the old useless Somali shilling. If this government is doing that, then I support it. But if this is just another money-making scheme, then may Allah give these criminals what they deserve.

 

 

[Tallaabo]

It is time Puntland introduced its own currency and managed its economy independently. Jubaland should then follow Pumtland's lead and take control of its finances.