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The Role of Remittance in the Economic Development of Somaliland

The international remittance markets have grown dramatically in many parts of the world for the past two decades or so. Yet their critical roles in the economic development of least developed countries, particularly in post-conflict and fragile states, are not widely known and acknowledged in the field of economics and development studies. The importance of remittances for the people of Somaliland since the collapse of the Somali state in 1991, engendering the breakdown of all institutions including national and international payment systems (banking), cannot be denied, since it has huge implications not only in the livelihoods of most people in the country but also in the security and the stability of the country.

Adam Ismail Hassan, PhD

Investment Promotion Specialist, USAID Partnership for Economic Growth