A closer look
Nothing screams fragile economy quite like collapsing because of a sheep rumor. In 1998 and 2000, Saudi Arabia banned livestock imports from Somalia over fears of Rift Valley Fever. Since Somalia’s economy was essentially propped up by millions of goats and sheep making the Hajj pilgrimage to Saudi dinner tables, the ban caused a total macroeconomic meltdown. Currency values tanked, purchasing power evaporated, and nomadic herders suddenly found themselves holding worthless, bleating assets. It’s a stark reminder that one trade partner's paranoia can flatline a nation's GDP overnight.
