The Somaliland House of Elders’ April 2026 approval of a 27-month term extension for the House of Representatives, shifting its mandate to October 2028, underpins the market’s 96.2% pricing on no parliamentary election before 2027. The Guurti cited persistent security challenges in Sool, Sanaag, Awdal, and SSC regions, incomplete drought recovery, and broader economic pressures as barriers to timely voting originally planned for May 2026. This institutional decision, following the National Electoral Commission’s postponement request, has aligned trader consensus with the extended timeline despite the Wikipedia-listed target of March 2027. Shifts could occur if security stabilizes rapidly enough for an accelerated process or if political negotiations reverse the extension before year-end.