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Somalia: Feds and Regional States discuss life after Debt relief

MOGADISHU (SD) -The Ministers of Finance from the federal government and regional administrations recently convened a crucial online meeting aimed at revitalizing the country’s financial system following the conclusion of Somalia’s debt relief process.

The ministers agreed on the necessity of implementing new strategies to enhance the economic well-being of Somalia and to establish a sustainable financial framework for the country.

Additionally, they discussed the new phase of developmental projects in the country. In early December, Somalia successfully settled its debt, which is expected to aid the country in accessing new funding sources to boost its economic growth.

The International Monetary Fund (IMF) has stated that Somalia is eligible for new investment, which will help mobilize resources for critical areas such as education and job creation to improve the well-being of the Somali people.

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