somalia Flashcards
1
Q
remittances % of GDP
what year
A
24% in 2015
2
Q
$ remittances to Somalia
what year
A
$1.4 billion
3
Q
biggest flow from? amount per person annually
A
Somalia-Americans- $3’800 annually
4
Q
what’s the issue?
A
remittances which are heavily being relied on are being restricted
5
Q
why?
A
Somalia has had no central monetary for over 15 years
Banks in developed countries closed bank accounts of Somali remittances companies due to high risk- links to money laundering and terrorism. There’s conflict in country- al shabab
6
Q
% of people in Somalia who rely on remittances to meet basic daily needs
A
40%
7
Q
concerns
A
so malians may move towards militant groups due to unrest and desperation
