Ethiopian SRS Assistant commerce minister delegate & Central Bank officials met to Counter Inflation in Wajaale

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The assistant minister of commerce Hon. Asisa Abdilahi  Ethiopia’s Somali Regional State attended a meeting hosted by Somaliland Central Bank at the border town of Wajale. The meeting agenda pertained to the ways to counter rising inflation of the Ethiopian currency and money laundering across the porous border.

The participants discussed how to counter inflation, improvement of trade and protection against money laundering.

The meeting was held at Somaliland Central Bank offices in Wajale town. Also attending the meeting were the two district commissioners of two border towns of Wajale.

 

Addressing journalists outside the Bank after the meeting the deputy chairman of Somaliland Central Bank Abdirahman Hassan Sheikh Ismael and the assistant commerce minister of Ethiopia Zone Five region revealed the matters discussed at the meeting.

First to speak was the minister who said “We have today completed four days of meeting to discuss myriads of issues that affects trade between the two countries..”

Speaking at news conference the deputy governor said “The Ethiopian Zone Five degelation has been with us for four days. We have discussed the economic challenges facing the two countries that has affected flow trade in Wajale and Ethiopia Zone Five region.”

He went on to elaborate the five points discussed to improve the economic growth of the two districts. They are as follows;

  1. The two countries to streamline and regulate the financial institutions and currency.
  2. Act swiftly to counter inflation of the Ethiopian currency Birr.
  3. Cooperate in strengthening the flow of trade between the two countries.
  4. Prosecute people engaging in illicit businesses and financial crimes like money laundering.
  5. Creation of a technical committee that will investigate and report on financial crimes and keep in check the exchange rate of Somaliland shillings and Ethiopia Birr.

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