Somali minister for finance, Abdirahman Duale Beileh has thanked international Monetary Fund for accepting to restore its relations with Somalia.
In a Twitter post, the minister said he held meeting with the director managing of IMF, Kristalini Georgieva over wide range issues.
“I had fruitful discussions with IMF MD @KGeorgieva in #WashingtonDC today. I thanked her for her leadership & members commitment to ensuring #Somalia normalises relations with the Fund. I informed the MD of our government’s commitment to sustaining economic reforms to progress,” he said.
On her side, Kristalini said it was great to see Minister Beileh.
“Our membership has recognized Somalia’s incredible commitment to economic reforms, with more than 100 countries supporting the process to provide comprehensive debt relief – a bright spot at a time of great uncertainty,” said Kristalini.
The move comes barely a day after the World Bank restored relations with Somalia for the first time in 30 years.
In a statement, the bank stated that the move came as a result of the Somali government’s “strong record of fiscal, political, social and economic reforms in recent years.”
Axel van Trotsenburg, World Bank Managing Director of Operations noted that the move paves the way for full resumption of operations saying the World Bank Group can provide the strongest possible support to Somalia’s efforts toward economic and social recovery.
International lender lauded Somali government’s effort to improve economy noting that “Somalia’s fiscal management agenda now covers revenue mobilization, budgeting, procurement, auditing, and cash management, as well as accountability over Public Financial Management.
