Verified source report
‘It’s like we went bankrupt overnight’: poorest Somalis suffer as piles of worthless shillings mount up
Banknotes are now so tattered that even buses refuse to accept them, as a dollarised economy and mobile phone payments push up the cost of essentials As US troops withdrew from Somalia in the spring of 1994, a teenaged Muse Omar Jama began working as an exchange trader in Mogadishu’s Bakara market. More than three decades later, he still does the same job, but wonders for how much longer. Jama, 49, sits in a plastic chair in the one-room office he shares with other traders. The auto-rickshaws speed by outside, but inside is quiet; the noise of bargaining has faded and the traders exchange few words between themselves. Continue reading...
What happened
According to The Guardian’s source item, ‘It’s like we went bankrupt overnight’: poorest Somalis suffer as piles of worthless shillings mount up, Banknotes are now so tattered that even buses refuse to accept them, as a dollarised economy and mobile phone payments push up the cost of essentials As US troops withdrew from Somalia in the spring of 1994, a teenaged Muse Omar Jama began working as an exchange trader in Mogadishu’s Bakara market. More than three decades later, he still does the same job, but wonders for how much longer. Jama, 49, sits in a plastic chair in the one-room office he shares with other traders. The auto-rickshaws speed by outside, but inside is quiet; the noise of bargaining has faded and the traders exchange few words between themselves. Continue reading…
Context
The development sits in VINI’s Global file for readers following international affairs, institutions, conflict, diplomacy, economics, and cross-border consequences. The original report is linked so readers can check the source account, follow later updates, and compare new coverage against the first published record. The source item is dated 2026-05-11T05:00:46+00:00.
What to watch
Open questions include whether primary sources issue follow-up statements, whether local or market impacts become clearer, and whether additional reporting changes the timeline or adds material context.
Source
Primary source: ‘It’s like we went bankrupt overnight’: poorest Somalis suffer as piles of worthless shillings mount up via The Guardian. VINI cites and links the source; it does not reproduce the publisher’s full article text without rights clearance.
This source-cited VINI report links to the original publisher record. VINI does not republish third-party article bodies without rights clearance. 1 source listed.
Source links
- ‘It’s like we went bankrupt overnight’: poorest Somalis suffer as piles of worthless shillings mount upThe Guardian - 2026-05-11T05:00:46+00:00
Reader comments
Moderated discussion
Comments are open to authenticated approved accounts, screened for spam and abuse, and published only after newsroom moderation unless editors change the story control.