Somalia has warned gains made in recent years could be derailed should international donors hold back their support to the country in light of uncertainties over the upcoming elections.
Speaking during the launch of the fifth Somalia Economic Update by the World Bank Wednesday, finance Minister Abdirahman Beileh said a wait and see approach could negatively impact the country’s recovery efforts.
“I will caution against the temptation to let the guard down, the temptation to wait until the elections take place,” Beileh said noting the international community has all the information regarding the country’s electoral process.
Noting that key donors like the World Bank, African Development Bank, and EU were holding back support due to the upcoming elections, Beileh added, ‘We have done good things together, we have succeeded to be transparent with each other’.
Parliamentary elections are scheduled to kick off from early December culminating in the election of a new president in the first week of February next year.
The World Bank report noted Somalia’s economic growth is projected to decline by 1.5% owing to the effects of COVID-19, desert locust invasions, and floods which have adversely impacted livelihoods.
The lender however projects a rebound up to 2.9% next year but conditioned on easing of COVID-19 pressures and absence of climatic shocks.