A Credible Somali Shilling Requires Rules, Reserves and Trust. A practitioner’s recommendation for establishing a Somali currency board
Somalia is approaching one of the most consequential economic reforms since the reconstruction of its federal institutions, restoring a credible national currency after more than three decades without regular official banknote issuance. The monetary reality is unusual but clear. The economy is deeply dollarized, US dollars dominate higher-value transactions and mobile-money balances, while the remaining Somali shilling notes have largely served small cash transactions. Counterfeiting, deterioration of notes and declining
Black News 
Somalia is approaching one of the most consequential economic reforms since the reconstruction of its federal institutions, restoring a credible national currency after more than three decades without regular official banknote issuance. The monetary reality is unusual but clear. The economy is deeply dollarized, US dollars dominate higher-value transactions and mobile-money balances, while the remaining Somali shilling notes have largely served small cash transactions. Counterfeiting, deterioration of notes and declining
