An important meeting was held in Nairobi, Kenya, between the Federal Government of Somalia and the International Monetary Fund (IMF), and the World Bank. The government’s delegation led by the Ministry of Finance will analyze the important issues for the requirements of the Debt Relief program in Somalia, and the development of the General Administration of Finance in the country.
The conference is also discussing how to focus on the completion of Somalia’s Debt by looking at the conditions and the important program to reach the point of completion.
The Minister of Finance of the Federal Government of Somalia, Dr. Elmi Mohamud Nur, who officially opened the meeting, said that it is important to implement the agreed conditions, stimulate domestic revenue and strengthen the process of the country’s General Financial Management (PFM).
“Today marks the start of the 5th review of the ECF program with the IMF. I will discuss the progress we have made in domestic revenue generation, the process of Public Finance and Good Governance. We are committed to further strengthening the financial regulation of our country” the Minister of Finance said.
The conference was also attended by the Ministries of National Planning and Justice, the Central Bank of Somalia, the Office of the President and the Prime Minister, officials and representatives from the IMF, the World Bank, the African Development Bank, and other organizations that support Somalia.
Source: Somali National News Agency