Republic of Somaliland’s Minister of Finance and Economic Development, Hon. Abdillahi Hassan Adan, has outlined the government’s plans to strengthen the country’s financial system, combat corruption, boost national revenue and improve the value of the Somaliland shilling.
Speaking on the weekly rulling Waddani’s “Talk to Your Party” programme, Minister Abdillahi said tackling corruption remains one of the government’s highest priorities, describing it as a major threat to Somaliland’s economic development and state-building efforts.
“During the time I have been at the Ministry, three people have been arrested for corruption,” the minister said, stressing that his ministry does not interfere with the work of oversight institutions or the courts.
“We do not interfere with the Auditor General or the courts; they make their own decisions,” he added.
The minister said the fight against corruption is central to the agenda of President H.E. Abdirahman Mohamed Abdullahi (Irro) and his administration.
“Corruption poses a major threat to the country’s economy and the progress of state-building. Combating corruption is the government’s and President Abdirahman Irro’s first priority and primary objective,” Abdillahi said.
The Finance Minister also addressed the continued pressure on the Somaliland shilling, linking fluctuations in its value to the availability of US dollars in the domestic market.
“Whenever the availability of dollars decreases, the value of the Somaliland shilling declines,” he explained.
He attributed part of the changing demand for dollars to global economic and geopolitical developments, particularly the situation surrounding the Strait of Hormuz, which he said has affected dollar purchases.
The minister said the government’s objective is to strengthen the value of the Somaliland shilling, with the Ministry of Finance and the Central Bank of Somaliland working jointly on measures to achieve greater stability.
The remarks come as the government seeks to strengthen public financial management, increase domestic revenue, improve accountability and build a more resilient national economy.