Second day of protests in Puntland capital

Garowe protests

GAROWE, Somalia Apr 19 (Garowe Online) - Somalis in the northern region of Puntland took to the streets Saturday for the second straight day of protests against hyperinflation and the worsening economic situation, Radio Garowe reported.

Hundreds of protestors including women and students walked up and down the main streets in Garowe, the capital of the northern region of Puntland.

Protestors chanted words directed against the policies of the Puntland government and the local business community, with angry crowds blaming traders for the rising price of goods.

Unlike Friday, protestors today did not block roads or throw stones at government buildings and business centers.

However, most businesses remained closed for fear of looters hiding among the demonstrators.

Garowe police arrested at least four men involving in criminal activities while the peaceful protest was in progress, police officials said.

The government of Puntland has not yet commented on two days of protests in the capital city.

On Thursday, a Puntland Cabinet meeting concluded with the government deciding to lower the taxes on necessary goods by 25% and impose a fixed exchange rate for the U.S. dollar.

Puntland government officials want money changers to trade $100 U.S. dollars for a fixed rate of 1,800,000 Shillings. But the market value exchange rate now stands at 3,200,000 Shillings per $100 U.S. dollars.

It is not clear how a fixed exchange rate can be applied in Puntland, but the government issued a similar decree last year that had no affect on the market.

Critics allege Puntland government officials and allied business interests are directly involved in the printing of counterfeit Shillings, an illegal practice that has affected markets across Somalia.

The Puntland Ministry of Finance recently denied reports that Shillings were being minted locally.

Source: Garowe Online