Somaliland: Central Bank in Mini Reshuffle


By: Latifa Yusuf Masai
HARGEISA (Somalilandsun) – Citizens are sighing in relief in hopes that the spiraling inflation rates in the country are about to cease.
The hopes follow a mini-reshuffle at the central bank that though made noiselessly and without pomp by the chief Somaliland government banker Abdi Dirir Abdi became publicly known in minutes.
Without bringing any new blood or disposing of the old, the central bank governor shuffled senior officers from one desk to another with
The managers of the Bank’s branch one in Hargeisa swapping places the Gabile Branch manager while the Las Anod boss shifts in a swap to Borame and vis a vis the Hargeisa branch 2 with that of Burao.
Devoid of any official statement from Governor Abdi Dirir it is not yet clear what prompted the transfers but the optimism of citizens anticipating a respite from the upward moving rate of foreign exchange is statement enough.
For over a month the dollar exchange rate usually @ 6,500 SL shs to $1 has been changing hands at between 6,700 to 7,000 Somaliland shillings.

Rate of Foreign Currency exchange against the Somaliland Shilling very high in over a month
These has resulted in the increased of commodity prices a in a country that never enjoys price reductions when inflation is reigned in.
While this is the second reshuffle done by the central bank within a year and despite the upbeat anticipation of citizens recycling of the seeminGovernor Dirir shape up or movegly out of touch with modern trends in banking senior staff is at most an exercise in futility.
Unless governor Abdi Dirir recruits properly skilled bankers from wherever including those learned at local universities the poor performance of the central bank shall continue thus imperative he resigns since his management is deterring government agendas geared towards sustainable economic growth.