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IMF approves additional $40 million for Somalia, releases $30 million in immediate budget support MOGADISHU — The International Monetary Fund has approved an additional $40 million for Somalia after completing the fourth review of the country’s Extended Credit Facility, authorizing an immediate $30 million disbursement for budget support. The decision lifts Somalia’s total access under the program to about $140 million and brings cumulative disbursements to roughly $100 million under the arrangement approved in December…

Mogadishu (AX) — China has donated $1 million to the Somalia Disaster Management Agency (SoDMA) to bolster drought relief as seasonal rains falter and food insecurity deepens across the country, Somali and Chinese officials said Monday. Chinese Ambassador to Somalia Wang Yu formally handed over the contribution during a high-level meeting hosted by SoDMA Commissioner Mohamud Moalim Abdulle in Mogadishu. Wang said the aid reflects Beijing’s commitment to stand by Somalia “during these difficult times,” citing the “principle…

IMF, Somalia Reach Staff-Level Deal That Could Unlock $30 Million Somalia has secured a staff-level agreement with the International Monetary Fund that could release roughly $30 million in fresh financing, a timely boost as the government faces tighter aid flows, the bite of climate shocks, and the demanding work of rebuilding a post-debt-relief economy. The agreement, announced Sunday after two weeks of talks in Washington and Mogadishu, will go to the IMF Executive Board in the coming weeks. If endorsed, it would mark…

Al‑Shabaab’s War Chest: How a Militant Tax System Fuels a Comeback in Somalia A militant economy hiding in plain sight The hardest thing to see in Somalia’s long war is often the most obvious: the receipts. A new assessment by the Combating Terrorism Center at West Point says al‑Shabaab, al‑Qaida’s Somali affiliate, is now the network’s financial powerhouse—pulling in an estimated $100 million to $200 million a year. That money isn’t just paying for bullets. It’s rebuilding a parallel state. The report, The Global State…

African Union mission in Somalia teeters as $180 million shortfall threatens gains against al‑Shabab MOGADISHU — The African Union Support and Stabilization Mission in Somalia (AUSSOM) is confronting a funding cliff that could unravel years of hard-won progress against the Islamist insurgency, AU officials warned at the United Nations General Assembly. With about 11,000 troops from Kenya, Burundi, Ethiopia, Djibouti and Uganda deployed across Somali towns and desert tracks, the mission now faces an estimated $180 million…

Somalia’s identity shake-up: a bid to reclaim control sparks questions about reach and rights MOGADISHU — In a forceful televised address that mixed alarm at security risks with the blunt tools of statecraft, President Hassan Sheikh Mohamud announced a sweeping overhaul of how Somalis are identified: passports, he said, will no longer be the primary credential for accessing government or private services. Instead, the National Identification and Registration Authority (NIRA) card must be used — and those who refuse to…

Reaching Across the Sands: Qatar's Aid to North Western State of Somalia's Drought-Impacted Communities In an unexpected display of cross-regional solidarity, Qatar has pledged $3 million to support the drought-stricken communities in North Western State of Somalia. This humanitarian gesture follows the failure of the anticipated spring rains, plunging the region deeper into an existential crisis. The announcement, made Tuesday, is more than just a financial promise; it's a testament to the shifting alliances and emerging…

Kenya Airways: Navigating Turbulence and Anticipating New Horizons Amidst the riveting expanse of African skies, Kenya Airways, one of the continent's airline giants, finds itself grappling with financial headwinds yet plotting a hopeful course toward recovery and growth. As the airline announced plans to secure at least $500 million in new capital by next year’s first quarter, it underscores a dynamic mix of challenges and ambitions in the aviation industry. A Journey Through Financial Storms Kenya Airways, often hailed…

Inside Somalia’s Judiciary Financial Quagmire Mogadishu, long viewed as the beating heart of Somalia’s hopeful resurgence, now finds itself at a crucial juncture. Somalia’s Auditor General, Ahmed Issa Gutale, has thrust the nation’s judiciary into the spotlight by accusing its top courts of obstructing essential financial audits. This revelation, leading to the disappearance of over $1 million, raises profound questions about transparency and governance in the country. A Call for Transparency, Met with Silence During a…

Mogadishu (AX) — In a revelation that can ruffle some feathers, the International Air Transport Association (IATA) brought to light that a hefty $950 million of airline moolah is stuck in African nations. This chunk represents a whopping 57% of the world’s aviation money that’s caught in a web due to scarce foreign exchanges. During a pow-wow at the African Airlines Association's big annual shindig in Cairo, IATA's head honcho, Willie Walsh, sounded the alarm, pleading for someone to get a move on and fix this jam!—astating…