Wednesday, January 20, 2021

Virus Resurgence Sees World Central Bankers Stick to Gloomy Tone

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Global central bankers are under no illusion that they’re through the fallout from the coronavirus, issuing fresh warnings about new government restrictions, struggling recoveries...

Does Somalia Have a National Currency?

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The absence of policy-making on the shilling reform, and the continuing failure to recognize its importance, is illustrative of the wider failure of thinking...

Concealed Records Reveal Years of Trump Tax Evasion, Chronic Losses

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The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of...

The US Cancels US$1 Billion Debt Somalia Owed It

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In a bilateral agreement the United States government signed with federal Somalia, Sunday, the US waived US$ 1 billion debt the latter owed it. The...

Controls on Remittances Risk Driving Financial Flows to Somalia Underground

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Remittance companies are a crucial mechanism for transferring cash to Somalia, where the fledgling formal financial sector remains largely isolated. Despite improvements, Somalia struggles...

African Development Bank Chief, Adesina, Cleared in External Misconduct Probe

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Inquiry led by former Irish president dismisses claims against Akinwumi Adesina An independent inquiry has cleared the president of the African Development Bank of misconduct,...

African Development Bank Grants Somalia $25 Mln for Better COVID-19 Response

The grant - like many international partners' overtures - dumps the whole sum on Somalia lap which assumes the Republic of Somaliland is excluded The...

Somalia: What Stopped Hawala Flow From Minnesota?

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COVID-19 has disrupted the international money-wiring system called hawala. And U.S. banks won’t do business with them. The result, one Minnesota hawala operator says:...

Somaliland: Dahabshiil Strongly Refutes WorldRemit Statement.

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Top Dahabshiil management has in a press statement strongly refuted reports carried in a section of media that alleged World Remit has entered into...

Somalia: World Bank Approves $40 Million To Support Desert Locust Response

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PRESS RELEASE The World Bank Board of Directors today approved a $40 million International Development Assistance (IDA) grant for Somalia as part of the Emergency...