Somali Finance Minister meets US ambassador in Mogadishu

Somali Finance Minister, Abdirahman Duale Beileh has held talks with US ambassador to Somalia in Mogadishu.

In a statement, the minister said he has held a productive meeting with Ambassador Donald Yamamoto.

According to the statement, the meeting was on the progress of Somalia’s national fiscal reforms under the IMF SMP.

“We are glad for America’s support in our development priorities, including financial reforms, economic stability & fruitful journey towards debt relief,” the statement reads in part.

On his part, the ambassador said he is impressed with tangible development made in the economic sector adding that his office is looking forward to more progress in the future.

According to the government, the debt relief process is very vital to accelerate new financial resources to be channeled for reconstruction and development and to encourage higher investments in the horn of the African country.

Somalia has over USD 4.6 billion debt to be canceled in the process which started a few years ago.