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Plans under way to re-open central bank


The Transitional Government of Somalia is expected to make the old central bank operational again in the coming days and the money recently bought back from the traders, which had caused such massive inflation, will be stored in the bank.

Government officials have been holding a series of meetings in the past few days on re-opening the bank and former bank officials have been summoned to contribute their ideas on the re-opening of the bank.

The government is said to be planning to remove from circulation the money printed recently by businessmen and store it at the central bank.

Currently the money is under storage in various locations in Mogadishu.


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