SOMALIA: TFG to print new currency in Sudan ahead of election date
By; Abdalle Ahmed
Mogadishu (RBC) The transitional government of Somalia is printing new currency in Sudan which is due to enter the country soon as the scheduled election is going to hold on August, sources told RBC Radio.
The deal of printing the new currency notes in Sudan will cost more than ten million dollars contracted to Sudan firm.
The new currency will be various denominations of 1,000, 2,000, 5,000, 10,000 and has to replace the old, sources told RBC Radio.
The current interim President Sharif Sheikh Ahmed, who also declared his intention to run for the office in next term, is reportedly involving the process of printing the new currency creating great suspicion on possible relation between the election campaign and the new currency being printed.
The country’s transitional government has already announced the need for new currency to replace the current single 1,000-shilling note, but the ministry of finance has not yet given a fixed date for introducing the new currency.
Reliable sources say that the printing of the banknotes in Sudan came under a contract signed in 2009 by Sharif Sheikh Aden, the former minister of finance of the transitional government of Somalia and that the new currency had not been delivered to the country since then.