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Saturday, August 13, 2022

Somalia’s elect-president Hassan Sheikh pledges to work on economic reforms

Somalia’s newly elected President Hassan Sheikh Mohamud and officials from Development Bank (AFDB held talks on Saturday.

In a statement, the president and the officials from the bank along with the finance minister Abdirahman Beileh discuss the country’s financial reforms.

According to the statement, Somalia pledged the continuation of economic reforms while officials from the Bank expressed their commitment to support for Somalia.

President Hassan Sheikh Mohamud pledged that his government would focus on completing the debt forgiveness process as well as strengthen co-operation with international financial institutions.

The new President of the Federal Republic of Somalia, Hassan Sheikh Mohamud, accompanied by the Minister of Finance, has been holdin key meetings with IMF and World Bank officials this week.

Last Friday, the Federal Government of Somalia and the International Monetary Fund (IMF) reached a landmark agreement on the debt forgiveness process and Phases 2 and 3 of the ECF Fiscal Reform and Economic Development Program.

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