Somalilanders should value their local currency, says parliamentary committee

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By M.A. Egge

The Governor of the Central Bank of Somaliland Dr. Abdillahi Dahir has dismissed the recent reports in the media that had made waves alleging that there was new money being printed by the institution.

The governor made the assurance to the members of the public that there was no new currency in the pipeline being printed as he met the Permanent Standing and Ethics committee of the House of Representatives on Wednesday.

While acknowledging the fact that there has been inflation in the country, he pointed out that it was a matter of national interest that had relevant agencies dealing with it.

He revealed that they do pump hard currencies to the market in order to put the inflation in check, but do not flood the local currency since it would be counter-productive.

He lamented that the political wariness and conflicts has had an impact in being a catalyst in the inflation of the local shillings.

On the other hand, the Permanent and Ethics Committee chair urged the people of Somaliland to be patriotic enough and value their own currency.

MP Faysal Yusuf Jama also said that there is a working relationship between the officials of the Central Bank of Somaliland and the members of the Committee.

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