Somaliland: Puntland Mints Counterfeit US Dollars to Subsidize Budget

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If things are left unchecked Puntland President Gaas might soon introduce an Obama dollar

By: Yusuf M Hasan

Somalilandsun – The entire Somalia administrative region of Puntland is awash with fake money.

According to reliable Somalilandsun sources the Puntland authorities are behind the profusion of the counterfeit notes mainly in US dollar and Somalia shilling denominations.

“This project which is under the direct supervision of President Abdiweli Gas is geared towards facilitating armed forces and civil service payments back dated to February this year” said our source.

Since Abdiweli Gas assumed the Puntland presidency his Garowe town based administration has repeatedly failed to cover its operational budgets for reasons yet fathomed.

The minting of phony currencies in the region has been termed by the Somalia Central bank governor Bashir Isse Ali as not only an illegal one but one ultimately leading to a collapsed economy.

“We are pursuing avenues of stopping the profusion of Puntland printed dollars and local shillings as well as punishment to offenders” said Governor Bashir during a media briefing in Mogadishu.

Puntland President Abdiweli Gas is allegedly behind the mingting of counterfiet currencies by his administartionAs for Somaliland which share very commercially active boundaries with Puntland, not a word has been heard from its authorities in Hargeisa.

In Somaliland and Somalia as well as the wider horn region where the US dollar is main legal tender currency the on-going activities in Puntland if not nibbled in the bud shall bore ill to livelihoods.

As for the Somaliland authorities urgent measures to stem the influx of the fake monies in its territories especially Sanaag and Sool regions bordering Puntland are imperatives sooner rather than later.

Or is the establishment in Hargeisa waiting to react after the events as is usual?

As for Abdiweli Gas a highly US Educated and trained Economist, it should be apparent that bankrolling his government’s operations with fake monies is not the solution to his maladministration induced budget deficit

Ironically this statement was issued by Gas in the run-up to presidential elections in Puntland in which he defeated then incumbent Abdirahman Farole

“With my strong academic background and real experiences with the mosaic of problems in Somalia, I will work to consult my people to execute the most effective and sustainable solutions to and a way out of the conflict and poverty quagmire, and a crucial means of getting our youth to become a productive segment of the society. I will ensure that the nation rebuilding process is people-centered, strategic and long-term in orientation” click for details of the Abdiwlei Gas Economics teaching brief 

 

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