Somalia: Currency Reform Assessment Letter for the Central Bank of Somalia
May 11, 2018
Download PDF
Preview Citation
Format: Chicago
Somalia: Currency Reform Assessment Letter for the Central Bank of Somalia, (USA: International Monetary Fund, 0) accessed November 23, 2024
Summary
This letter provides IMF staff’s assessment on the readiness of the Central Bank of Somalia
(CBS) to issue a new national currency under Phase I which will be limited to exchanging
the counterfeit Somali shilling notes currently in circulation with new currency. Over the
past two years the IMF has provided the CBS with extensive technical assistance (TA) to
support the currency reform project. All preparatory measures agreed on between the
authorities and IMF staff have been implemented and IMF staff views that the CBS is ready
to introduce the new national currency under Phase I. This assessment letter has been
requested by the CBS with the objective to share it with donors to mobilize the needed funding
for the currency reform project. It is estimated by IMF staff that this project under Phase I will
cost about $41 million.
Publication Details
-
Pages:
---
-
Volume:
---
-
DOI:
---
-
Issue:
---
-
Series:
Policy Papers
-
Stock No:
---
-
ISBN:
---
-
ISSN:
---