Govt Announces steps to tackle high inflation in Somaliland

[Deeq A.]

HARGEISA–The Somaliland government & the Central Bank have taken steps aimed at addressing the issue of high inflation in the country, including the creation of Single Treasury Account. The Bank officials in conjunction of the treasury ministry of Somaliland have said that Khat import duty and other products that have health related side effects to the community must be increased.

The joint commission which the president has recently appointed announced that Money Banking mainly the Zaad Services and e-Dahab should reduce the circulation of the currency of dollar. The minimum amount that can be remitted via the use of mobile money should not exceed by 100 US dollars. Citizens are apprised not to pay products less than 100 dollars according to the deputy minister of finance. The government has given a 45 ultimatum that merchants and citizens to abide by the new directive. The new measures introduced were the ones that the former government under president Silanyo failed to put into operation. The measures are expected to contain the skyrocketing inflation that impacted the lives of citizens who live under the breadline.