The Central Bank of Somalia (CBS) has prioritized the printing of new currency.
A communiqué from the Central Bank indicates that it would be printing new currency for the first time since 1991.
The country went into a civil war in 1991.
In the ensuing period, the nation had to rely on US dollars and fake currencies.
It continues facing the effects of the decades-long war today.
According to the Central Bank, the printing of new currency would allow give it complete control over the monetary policy.
A report by the International Monetary Fund (IMF) in 2017 showed that 98 percent of the currency circulating in Somalia was fake.
Abdirahman Mohamed Abdullahi, the Governor of the Central Bank, says Somalia’s economy has been “dollarized” for the past 30 or so years.
“We cannot have a monetary policy without reintroducing the Somali Shilling,” he added.