Somalia to hold presidential election on May 15

Election is over a year behind schedule, marred by power struggle between President Mohamed Abdullahi Mohamed and PM Mohamed Hussein Roble (R). (File/AFP)
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Updated 05 May 2022
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Somalia to hold presidential election on May 15

  • Somalia’s international partners have been pushing for the process to pick up speed
  • A $400-million IMF aid package will automatically expire by mid-May if a new administration is not in place by then

MOGADISHU: Somalia will hold presidential elections on May 15, state TV announced Thursday, broadcasting a statement by a parliamentary committee tasked with organizing the long-delayed polls in the fragile Horn of Africa nation.
The election is well over a year behind schedule, marred by deadly violence as well as a power struggle between President Mohamed Abdullahi Mohamed, better known as Farmajo, and Prime Minister Mohamed Hussein Roble.
Somalia’s international partners have been pushing for the process to pick up speed, fearing the delays sap efforts to tackle entrenched problems, including the fight against Al-Shabab extremists and the threat of famine.
“In consideration with the current circumstances of the country, the members agreed 15 May to be the day for the election of the president,” Mohamed Ibrahim Moalimu, a member of the parliament election committee, said in a Facebook post on Thursday.
A three-year $400-million (380-million-euro) aid package from the International Monetary Fund (IMF) will automatically expire by mid-May if a new administration is not in place by then, a move that would plunge the country into deeper peril.
After Farmajo’s term ended in February 2021 without a new vote taking place, he attempted to extend his rule by decree, triggering violent street battles in Mogadishu as rival factions clashed.
Following international pressure, he appointed Roble to seek consensus on a way forward
But the process has progressed painfully, stoking fears of further instability.
In addition to the feud between Farmajo and Roble, the central government has also been embroiled in disputes with certain states, slowing down the voting process.
The Al-Qaeda-linked Al-Shabab, which has been fighting the government for over a decade, has staged frequent attacks in recent months, including a suicide bombing in March that killed two local lawmakers.
On Tuesday, an attack on an African Union (AU) base killed 10 Burundian peacekeepers, according to Burundi’s army. It was the deadliest raid on AU forces in the country since 2015.
As the militants have ratcheted up their assaults, the rift between Farmajo and Roble has continued to widen, with the election of the lower house speaker delayed last week by a dispute over who should provide security at the voting venue.
Meanwhile the country is grappling with a worsening drought which threatens to drive millions into famine, with young children facing the greatest risk.
Thursday’s announcement “will come as a major relief for most Somalis and their international partners, as it signals the end of an electoral cycle that has dragged on for way too long and distracted from other priorities,” said Omar Mahmood, an analyst at the International Crisis Group (ICG) think tank.
“The rapid pace of developments over the past few weeks clearly points to momentum and a desire to wrap all of this up,” Mahmood told AFP.
Somalia has not held a one-person, one-vote election in 50 years. Polls follow a complex indirect model, whereby state legislatures and clan delegates pick lawmakers for the national parliament, who in turn choose the president.
Al-Shabab extremists controlled Mogadishu until 2011 when they were pushed out by an AU force, but still hold territory in the countryside.
The militants regularly strike at civilian, military and government targets in Somalia’s capital and elsewhere in the country.


Trump calls for one year cap on credit card interest rates at 10 percent

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Trump calls for one year cap on credit card interest rates at 10 percent

  • Trump says Americans have been ‘ripped off’ by credit card companies
  • Lawmakers from both parties have raised concerns about rates

WASHINGTON: US President Donald Trump said on Friday he was ​calling for a one-year cap on credit card interest rates at 10 percent starting on January 20 but he did not provide details on how his plan will come to fruition or how he planned to make companies comply.
Trump also made the pledge during the campaign for the 2024 election that he won but analysts dismissed it at the time saying that such a step required congressional approval.
Lawmakers from both the Democratic and Republican Parties have raised concerns about high rates and have called for those to be addressed. Republicans currently hold a narrow majority in both the Senate ‌and the House ‌of Representatives.
There have been some legislative efforts in Congress ‌to pursue ⁠such ​a proposal ‌but they are yet to become law and in his post Trump did not offer explicit support to any specific bill.
Opposition lawmakers have criticized Trump, a Republican, for not having delivered on his campaign pledge.
“Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10 percent,” Trump wrote on Truth Social, without providing more details.
“Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies,” Trump added.
The ⁠White House did not immediately respond to a request for comment on details of the call from Trump, but said on ‌social media without elaborating that the president was capping the rates.
Some ‍major US banks and credit card issuers ‍like American Express, Capital One Financial Corp, JPMorgan , Citigroup and Bank of America did not immediately respond ‍to a request for comment.
US Senator Bernie Sanders, a fierce Trump critic, and Senator Josh Hawley, who belongs to Trump’s Republican Party, have previously introduced bipartisan legislation aimed at capping credit card interest rates at 10 percent for five years. This bill explicitly directs credit card companies to limit rates ​as part of broader consumer relief legislation.
Democratic US Representative Alexandria Ocasio-Cortez and Republican Congresswoman Anna Paulina Luna have also introduced a House of Representatives bill to cap credit card ⁠interest rates at 10 percent, reflecting cross-aisle interest in addressing high rates.
Billionaire fund manager Bill Ackman, who endorsed Trump in the last elections, said the US president’s call was a “mistake.”
“This is a mistake,” Ackman wrote on X.
“Without being able to charge rates adequate enough to cover losses and earn an adequate return on equity, credit card lenders will cancel cards for millions of consumers who will have to turn to loan sharks for credit at rates higher than and on terms inferior to what they previously paid.”
Last year, the Trump administration moved to scrap a credit card late fee rule from the era of former President Joe Biden.
The Trump administration had asked a federal court to throw out a regulation capping credit card late fees at $8, saying it agreed with business and banking groups that alleged the rule was ‌illegal. A federal judge subsequently threw out the rule.