Bringing Back the Somali Shilling

Somalia has an unusual situation where its currency continued to be used even after the central bank and government collapsed in 1991. Counterfeit notes circulated alongside legitimate ones, leading to a unique monetary situation. The Central Bank of Somalia is planning to reintroduce new shillings, but there are concerns that this could cause more confusion in the dual-currency system. Rather than reintroducing new shillings, the author suggests adopting the Panama model of using locally-minted small denomination dollar coins to create a more unified currency system. This would eliminate monetary inequalities and provide a cost-effective solution to the currency issue in Somalia.

http://jpkoning.blogspot.com/2017/03/bringing-back-somali-shilling.html

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