Tuesday, 5 October 2010

SOMALIA: Why 'Hawala' Firms Are Crucial to Rebuilding the Economy

Nairobi — Somalia's crippled financial system faces severe challenges even as the country struggles to emerge from two decades of conflict.

Peace-building and reconstruction work will cost billions of dollars. The question of how this is to be paid for is crucial. Though Somalia potentially has sufficient natural resources, these are yet to be developed and the current level of funding for the Transitional Federal Government does not inspire confidence that the international community is keen to foot the bill. Read more

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