Thursday, October 1, 2020

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...

The Conditionalities of Aid and the Good Governance Agenda: The World Bank and its...

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Abstract:-This paper endeavours to explain the good governance notion of the World Bank Group. It seeks to answer whether the bank fairly and impartially...

How Covid-19 is Affecting Remittances to Africa

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Global remittances are projected to fall by 20% in 2020, according to a new report by the World Bank.  This decline is expected to have...

Kenyan Forex Scammer Swindles Somalia MPs of US$ 59mln

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About twenty Federal Republic of Somalia MPs were left in a lurch after a swindler, only identified as Abdalla disappeared with an estimated Ksh6...