Somalia - Glossary Index
Sources: The Library of Congress Country Studies; CIA World Factbook
Glossary -- Somalia
- A large group of people believed to be descendants through males of a common ancestor whose name is also the name of the clan. Several clans constitute a clan-family (q.v.), and each clan is divided into a number of lineages (q.v.).
- A group of clans (q.v.) believed to be linked ultimately by descent from a common ancestor. The six major Somali clan-families are Daarood, Hawiye, Isaaq, Dir, Digil, and Rahanwayn.
- client, clientage
- Clientage involves a relationship in which each party gains something. The client attaches himself to a prominent person to obtain protection, the possibility of advancement, and the like. The patron acquires a follower and, in case of need, the services of the client.
- An Islamic technical term relating to the glorifying of Allah with certain fixed phases, repeated in a ritual order and accompanied by special breathing and movements.
- Islamic blood compensation paid by a person who has committed homicide or wounded another, including injuries in traffic accidents.
- fiscal year (FY)
- An annual period established for accounting purposes. The Somali fiscal year is coterminous with the calendar year.
- franco valuta
- A system permitting the private repatriation of hard currency by traders and overseas workers.
- GDP (gross domestic product)
- A value measure of the flow of domestic goods and services produced by an economy over a period of time, such as a year. Only output values of goods for final consumption and for intermediate production are assumed to be included in final prices. GDP is sometimes aggregated and shown at market prices, meaning that indirect taxes and subsidies are included; when these have been eliminated, the result is GDP at factor cost. The word gross indicates that deductions for depreciation of physical assets have not been made.
- GNP (gross national product)
- GDP (q.v.) plus the net income or loss stemming from transactions with foreign countries. GNP is the broadest measurement of the output of goods and services by an economy. It can be calculated at market prices, which include indirect taxes and subsidies. Because indirect taxes and subsidies are only transfer payments, GNP is often calculated at a factor cost, removing indirect taxes and subsidies.
- International Monetary Fund (IMF)
- Established along with the World Bank (q.v.) in 1945, the IMF is a specialized agency affiliated with the United Nations and is responsible for stabilizing international exchange rates and payments. The main business of the IMF is the provision of loans to its members (including industrialized and developing countries) when they experience balance of payments difficulties. These loans frequently carry conditions that require substantial internal economic adjustments by the recipients, most of which are developing countries.
- A group of persons tracing descent from a common ancestor; in Somalia the ancestor is male, and descent is traced through males. The group carries his name. A lineage may be part of a larger one and may consist of several smaller ones.
- Somali shilling (Sh)
- Currency of Somalia since national independence in 1960; divided into 100 Somali cents (centesimi). Exchange rates have varied considerably; average rates for the years 1987-89 as follows: US$1 equaled Sh105.18 (1987); Sh107.45 (1988); Sh490.68 (1989); Sh1,299 (May 31, 1990). From 1960 to 1971, US$1 equaled 7.143 shillings. The shilling began to fluctuate in the 1970s but remained around 6 to 7 shillings per US dollar. Beginning in 1981, a two-tier system was introduced, with the official rate following the market rate.
- wadad (pl., wadaddo)
- A religious figure or functionary; member of an Islamic religious order or brotherhood or of a hereditary lineage of religious figures; the Arabic term shaykh is sometimes used for wadad.
- Spear carrier (warrior). Applied to adult males, particularly those of the pastoral tradition; excluded from this category are religious figures (wadad--q.v.).
- World Bank
- Informal name used to designate a group of three affiliated international institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), and the International Finance Corporation (IFC). The IBRD, established in 1945, has the primary purpose of providing loans to developing countries for productive projects. The IDA, a legally separate loan fund but administered by the staff of the IBRD, was set up in 1960 to furnish credits to the poorest developing countries on much easier terms than those of conventional IBRD loans. The IFC, founded in 1956, supplements the activities of the IBRD through loans and assistance specifically designed to encourage the growth of productive private enterprises in the less developed countries. The president and certain senior officers of the IBRD hold the same positions in the IFC. The three institutions are owned by the governments of the countries that subscribe their capital. To participate in the World Bank group, member states must first belong to the International Monetary Fund (IMF--q.v.).
NOTE: The information regarding Somalia on this page is re-published from The Library of Congress Country Studies and the CIA World Factbook. No claims are made regarding the accuracy of Somalia Glossary information contained here. All suggestions for corrections of any errors about Somalia Glossary should be addressed to the Library of Congress and the CIA.