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Tailored IMF Assistance Crucial for Somalia’s Debt Relief, Finance Minister Eheg Says

Storyline:National News

GOOBJOOG NEWS | WASHINGTON DC: Federal Government of Somalia’s Finance Minister Bihi Egeh has stressed the importance of tailored assistance by the International Monetary Fund IMF) aimed at addressing specific requirements of Somalia.  

Addressing a recent session with the IMF in Washington DC, the minister stated that targeted assistance and capacity development will enable Somalia achieve its targeted debt relief goals.  

Minister Egeh further said generic solutions are often not sufficient when dealing with the complex Somalia’s financial challenges emphasizing the effectiveness of assistance designed to address the unique national circumstances.

“The IMF’s role in providing such targeted support has been vital. The capacity development assistance has not only helped Somalia navigate through its debt challenges but also laid a foundation for sustainable economic growth and governance reforms,” he said during his speech.

He further reiterated the federal government’s commitment to continuing these efforts in collaboration with international partners like the IMF.

 He also highlighted the broader implications of context-specific assistance, suggesting that it could serve as a model for international aid effectiveness in other nations facing similar challenges.