Somali Government, IMF officials discuss debt forgiveness process

GOOBJOOG NEWS|MOGADISHU: The Somali Federal Government and officials of the International Monetary Fund (IMF) on Wednesday held a private meeting on Somalia’s debt forgiveness process via Zoom.

Federal Minister of Finance Abdirahman Duale Beyle and officials from the International Monetary Fund attended the meeting chaired by Somalia’s new President Hassan Sheikh Mohamud.

President Hassan Sheikh expressed the Federal Government’s commitment to continue its efforts to reform the financial system and develop the country’s economy.

“Today we had the honor and privilege of being joined by Somalia’s new president H.E. Hassan Sheikh Mohamud for a briefing with the IMF team. We discussed the economic reforms and the president reiterated his commitment to delivering further reform progress for the Somali people,” read a statement by Somalia’s Finance Minister.

“Somalia’s prospects for full debt forgiveness are now very high,” added Minister Abdirahman Duale Beyle.

The IMF had warned the Somali Government in February that the renewal of the three-year budget support programme, worth nearly $400 million, would be frozen automatically if elections failed to be held by May 17.