The Central Bank of Somalia to issue a new national currency under Phase which will be limited to exchanging the counterfeit Somali shilling notes currently in circulation with new currency. Over the past two years the IMF has provided the Central Bank Somalia. with extensive technical assistance to support the currency reform project. All
preparatory measures agreed on between the authorities and IMF have been implemented and IMF views that the Central Bank Somalia is ready to introduce the new national currency under . This has been requested by the Central Bank Somalia. with the objective to share it with donors to mobilize the needed funding for the currency reform project. It is estimated by IMF that this project under It will cost about $41 million.
Source; IMF