Dr Osman what we are talking about is that any manipulation of the currency in circulation by printing large amount of notes by anyone whether it is businessmen with state officials in the case of Puntland or businessmen and gangs will cause suffering and inflation even the slightest.
Does the rest of Somalia share the plight of Puntland people?
No is the answer.
Why?
Because in the rest of Somalia new currency is not printed to pay the salaries of thousands unlike Puntland.
Any truthful observer acknowledges it.
Has Puntland been here before (economical turmoil and crisis)?
The answer is Yes in 2007 and 2008.
Why?
The then governnent said it was propping up the TFG in southern Somalia as a Puntlander (Abdullahi Yusuf) was the President.
Because the TFG did not have enough resources and income, Puntlands revenue from ports, airports and taxes were diverted to prop up the TFG.
Puntland was sucked dry and there was no money to pay to law enforcement and other employees.
This resulted in daily mutinies and capturing of the State Bank in the capital Garowe. Adde Muse's government started printing money that caused economical meltdown in Puntland. In that period Lasanod switched hands to Somaliland. Puntland was broken.
The money printing got out of hand they were printing more and more and the criminals behind got filthy rich as it was unregulated and unsupervised. Inflation sky rocketed everyone was in shock.
So what happened is religious figures located the money printing houses by looking for them street by street they at the end pursuaded the businessmen owing the machine to sell it and have mercy on the population which they heeded.
Puntland recovered.
Fastforward after disastarious economic policies and mismanagenent by corrupt Gaas in 2014 and 2015 Puntland returned to its economic dark years of 2007/08.
There were mutinies and strikes by government employees so Gaas brought back the money printing machine. This has caused inflation and weekly protests in Puntland and closure of shops.
Does the rest of Somalia share the plight of Puntland people?
No is the answer.
Why?
Because in the rest of Somalia new currency is not printed to pay the salaries of thousands unlike Puntland.
Any truthful observer acknowledges it.
Has Puntland been here before (economical turmoil and crisis)?
The answer is Yes in 2007 and 2008.
Why?
The then governnent said it was propping up the TFG in southern Somalia as a Puntlander (Abdullahi Yusuf) was the President.
Because the TFG did not have enough resources and income, Puntlands revenue from ports, airports and taxes were diverted to prop up the TFG.
Puntland was sucked dry and there was no money to pay to law enforcement and other employees.
This resulted in daily mutinies and capturing of the State Bank in the capital Garowe. Adde Muse's government started printing money that caused economical meltdown in Puntland. In that period Lasanod switched hands to Somaliland. Puntland was broken.
The money printing got out of hand they were printing more and more and the criminals behind got filthy rich as it was unregulated and unsupervised. Inflation sky rocketed everyone was in shock.
So what happened is religious figures located the money printing houses by looking for them street by street they at the end pursuaded the businessmen owing the machine to sell it and have mercy on the population which they heeded.
Puntland recovered.
Fastforward after disastarious economic policies and mismanagenent by corrupt Gaas in 2014 and 2015 Puntland returned to its economic dark years of 2007/08.
There were mutinies and strikes by government employees so Gaas brought back the money printing machine. This has caused inflation and weekly protests in Puntland and closure of shops.
