RIYADH (SD) – A significant meeting between the financial institutions of the Federal Government of Somalia and the International Monetary Fund (IMF) commenced today in Riyadh, Saudi Arabia.

The meeting focuses on advancing Somalia’s economy and exploring investment opportunities in the country’s natural resources. The four-day conference will evaluate Somalia’s progress since its external debt relief was announced a year ago.

Discussions will cover strategies for economic development and plans to fund projects aimed at achieving economic self-sufficiency.

During the opening, Finance Minister Biixi provided a comprehensive overview of the ministry’s efforts in financial reform and revenue modernization, emphasizing that these initiatives are on the right path toward economic development. He reiterated the government’s commitment to financial transparency and development, expressing gratitude to the IMF and the World Bank for their technical and financial support.

Minister Biixi Imaan Cige, leading Somalia’s delegation, comprises officials from the offices of the President, Prime Minister, and various ministries, including Finance, Planning, and Petroleum, along with representatives from the Central Bank, the Financial Reporting Authority, the National Statistics Agency, and the Office of the Auditor General.