Somalia is preparing to reintroduce the Somali shilling after 35 years of not issuing new domestic banknotes, aiming to regain monetary sovereignty. The issuance of new currency comes as battered Somali shillings are increasingly rejected by businesses and as Somalia faces tighter international aid and security challenges. Parliament is reviewing laws for a Currency Board, and the central bank is finalizing regulations for reserve management and foreign exchange. Similar to Zimbabwe's recent efforts to restore its own currency, Somalia must not only release new notes but also rebuild public confidence, all while international support, especially from the US, is being reduced.

Somalia is preparing to reintroduce the Somali shilling after 35 years of not issuing new domestic banknotes, aiming to regain monetary sovereignty. The issuance of new currency comes as battered Somali shillings are increasingly rejected by businesses and as Somalia faces tighter international aid and security challenges. Parliament is reviewing laws for a Currency Board, and the central bank is finalizing regulations for reserve management and foreign exchange. Similar to Zimbabwe's recent efforts to restore its own currency, Somalia must not only release new notes but also rebuild public confidence, all while international support, especially from the US, is being reduced.