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Somalia boasts significant progress in improving its domestic revenue collection

Mogadishu (SD) -Somalia’s Minister of Finance, Bihi Iman Egeh, held a press conference in Mogadishu today, where he discussed the country’s Debt Relief Program and the government’s efforts to manage Somalia’s debt.

Minister Egeh stated that the government has made significant progress in improving its domestic revenue collection, which is a crucial component of the Debt Relief Program. He emphasized that the government is committed to ensuring the transparency and efficiency of public financial management.

He also highlighted the importance of collaboration with international financial institutions and donor countries, expressing appreciation for the support Somalia has received.

Recently, the International Monetary Fund (IMF) acknowledged the progress made by the Somali government in its fiscal and financial management and recommended that the country qualifies for debt relief. This is a significant step towards alleviating Somalia’s debt burden and fostering economic development.

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