United Nations Photo - Remittances in Somalia

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Headline Remittances in Somalia

Caption Description A money exchanger counts Somali shilling notes on a street in Mogadishu.
This week Somalia awaits a decision by the United Kingdom-based Barclays Bank on whether it will close the accounts of several of the country’s local money-transfer services. These services are vital for supplying what are known as “remittances” – funds sent from friends and relatives living abroad and on which many Somalis rely for everyday expenses. The UN Development Programme (UNDP) estimates $1.6 billion in remittances is sent back annually by Somali emigrants in North America and Europe.

Unique Identifier UN7288157

NICA ID 568020

Production Date 10/23/2013 12:29:40 PM

City/Location Mogadishu

Country Somalia

Credit UN Photo/Stuart Price

File size 2.10 MB