Pontus Marine LTD- Leader of fishing industry in Somaliland
Thursday, March 5, 2015
US money transfers cut off to Somalia
(Medeshi)- The last U.S. bank accepting money transfers from Somali immigrants to their families back home has halted those transactions. That's bad news for both those families and the Somali economy. By some estimates, the Somali diaspora sends home $1.3 billion each year.
Meanwhile, President Obama named the first U.S. Ambassador to Somalia since 1991. And the country continues to struggle with al-Shabab. An attack last month by the militant group on a hotel in Mogadishu killed 25 people.