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Somali Receives Special Delegation From World Bank

Somali Minister of Finance Dr. Abdirahman Beileh has welcomed into the country a delegation from World Bank. In a Twitter post, the Minister said he held discussion with the World Bank officials in his Mogadishu office on economic development.

“I received a delegation from the World Bank headed by Mr Nirja Verma, the World Bank’s Representative in East Africa, Mr Hugh Riddle, the World Bank’s Representative in Somalia and other members in the office. We have discussed on economic development and other related issues” said Dr. Beileh. The delegation’s visit to the country and engagement with the Federal Government of Somalia (FGS) on issues of economic development, is a positive sign towards rebuilding the country’s financial sector.

The FGS has made efforts to put in place credible financial systems and lobbied for a waiver of debts owed to international financial institutions. Since the collapse of the Siad Barre led central government in 1991, Somalia has raised funds to run government activities and institutions through third parties. Waiver of the country’s debt will enable it to stand on its own and to get funds directly from the world’s financial institutions.

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