{"id":13156,"date":"2025-10-21T11:06:37","date_gmt":"2025-10-21T09:06:37","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/usaid-cuts-had-severe-impact-on-somalias-economy\/"},"modified":"2026-02-27T16:26:13","modified_gmt":"2026-02-27T14:26:13","slug":"usaid-cuts-had-severe-impact-on-somalias-economy","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/usaid-cuts-had-severe-impact-on-somalias-economy\/","title":{"rendered":"USAID cuts had &#8216;severe impact&#8217; on Somalia&#8217;s economy"},"content":{"rendered":"<p>The closure of the United States (US) Agency for International Development (USAID) earlier this year hit Somalia&#8217;s economy and tax revenues, the Head of the country&#8217;s development bank said on Tuesday.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8220;In Somalia it really impacted our gross domestic product,&#8221; Hodan Osman, President of the Somali Development and Reconstruction Bank told the <em>Financial Times<\/em> Africa Summit in London on Tuesday.<\/p>\n<p>&nbsp;<\/p>\n<p>She said aid cuts reverberated in the economy in ways authorities didn&#8217;t expect, hurting economic activity and impacting sales tax revenues for the government.<\/p>\n<p>&nbsp;<\/p>\n<p>US President Donald Trump has slashed the country&#8217;s foreign aid budget, and shuttered USAID earlier this year. The agency had supported health, education and development worldwide.<\/p>\n<p>&nbsp;<\/p>\n<p>But Osman said the country faced a broader economic hit. &#8220;It also had a severe impact just on the economy alone that we weren&#8217;t really thinking about,&#8221; she said.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;Reuters&#8211;<\/p>\n","protected":false},"featured_media":13157,"template":"default||default","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-13156","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The closure of the United States Agency for International Development (USAID) earlier this year hit Somalia's economy and tax revenues||The closure of the United States Agency for International Development (USAID) earlier this year hit Somalia's economy and tax revenues","published_date":"2025-10-21 13:06:26||2025-10-21 13:06:26","news_description":"The closure of the United States Agency for International Development (USAID) earlier this year hit Somalia's economy and tax revenues||The closure of the United States Agency for International Development (USAID) earlier this year hit Somalia's economy and tax revenues","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/13156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/13156\/revisions"}],"predecessor-version":[{"id":18410,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/13156\/revisions\/18410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/13157"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=13156"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=13156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}