President Said Abdullahi Deni of Puntland has convened an emergency meeting of members of his administration to discuss the free-falling Shilling.
In December 2020, residents of Puntland took to the streets to protest the poor economic situation facing them.
Specifically, they protested the lack of adequate Shillings.
On January 10, Deni took a step towards resolving the issue by convening a crisis meeting of his most trusted advisors.
Ahmed Elmi Karaash, the Vice President, attended the emergency meeting together with Senator Abdirahman Faroole, who is also a former President of Puntland.
The Governor of the Central Bank and several other senior officials of the Puntland administration were at the meeting to find solutions to this nagging issue.
Security forces have been deployed in the state to enforce an executive order by Deni’s administration requiring traders to use Somali Shilling rather than the United States Dollar.
Last month, the Somali Shilling traded against the US$ at 46,000 to 1 in Puntland. The situation has not improved since then.