credible

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 rem