More fake currency hits Mogadishu

Two plane-loads of new Somali shillings arrived in the capital, Mogadishu, on Saturday, local sources and news agencies said. Local sources told IRIN that the new currency was valued at approximately US $4 million, or Somali shillings 60 billion. The arrival of the currency meant that traders at the currency market in Mogadishu were “changing the rates every hour”, said a local economist. Although the currency has not yet appeared, the main market, Bakaara, was said to be very quiet on Monday as a result.

On Sunday, there were demonstrations against the Transitional National Government (TNG) for failing to stop the continued importation of fake currency. Demonstrators accused the TNG of being weak, and failing to live up to promises to stop currency arriving from abroad. Local sources said the money had been brought in through Isaley airstrip, north Mogadishu, by two prominent businessmen.