President Mohamud upbeat on debt cancellation, arms embargo lifting, urges lawmakers to expedite passage of laws

President Hassan Sheikh Mohamud has expressed confidence in his government’s commitment to realizing the cancellation of debt and the lifting of the arms embargo.

Addressing a joint session of parliament today following his arrival from Tanzania where Somalia was formally admitted to the EAC, the President said his administration had made significant efforts necessary in stabilizing the country and jumpy starting the economy.

He urged parliament to pass all the necessary legislations to pave the way for the lifting of the arms embargo.

“When the Parliament of Somalia approved the necessary laws, the debt will soon be forgiven and the arms embargo will be lifted,” the President said.

Sources have indicated that the UN Security Council will likely lift the three decades old arms embargo in December enabling Somalia to acquire various caliber of weapons from different countries.

On security, the President said he was confident the last African Union soldier will leave the country by December next year in line with the dictates of the UN Security Council. He noted that his administration will redouble efforts in the war against Al-Shabaab.

The President told lawmakers that Somalia’s entry into the East African Community presented a myriad of opportunities for Somalis especially the business community. He noted that Somali traders will now be able to move across all the eight EAC member countries.

Regarding the economy, the President said the country had realized a 25% jump in domestic revenue collection in the last four months noting this was a result of cooperation between the business community and the government and the fight against Al-Shabaab extortion.