Somali government in talks with IMF, World Bank on Debt Forgiveness Program

GOOBJOOG NEWS/WASHINGTON D.C: The Somali Finance Minister Dr. Abdirahman Duale Beyle is in Washington DC for a series of high-level meetings with IMF, World Bank officials and senior members of the State Department.

The Finance Minister said that the meetings will focus on accelerating the country’s Debt Forgiveness program, which is important for Somalia’s economic recovery.

We are committed to advancing the debt-forgiveness process in Somalia which we have come a long way through,” said the Somali Minister of Finance.

Somalia’s debt levels hit the roof in 2020 due to the COVID-19 pandemic. The Somali Minister of Finance announced during that period that his government had lost about $200 million in revenue due to the crisis and that it was holding talks with the World Bank to help alleviate the problem.

The Somali Minister of Finance is accompanied by the Ambassador of the Federal Government of Somalia to Washington, Ambassador Ali Sharif Ahmed.