Washington D.C, SONNA — The Minister of Finance of the Federal Government of Somalia, Bihi Imaan Cige, has provided a comprehensive briefing on Somalia’s participation in the annual Spring Meetings held in Washington, D.C., underscoring key discussions on global economic challenges and Somalia’s development priorities.
Speaking on the outcomes of the high-level gathering, the Minister said the meetings placed strong emphasis on the global economic impact of ongoing conflicts in the Middle East, particularly their ripple effects on vulnerable economies such as Somalia’s.
During his visit, the Minister held a series of strategic meetings with senior leadership from the World Bank and the International Monetary Fund, focusing on practical solutions to address the prolonged drought affecting parts of the country and mitigating the economic pressures linked to global instability.
Minister Bihi noted that Somalia received strong recognition from international partners for its continued progress in economic recovery, anti-corruption reforms, and strengthening of public financial management systems. These achievements, he said, reflect the government’s sustained efforts to stabilize and modernize the national economy.
He further revealed that the international community has pledged continued support to Somalia, particularly in responding to the humanitarian impact of drought and advancing critical infrastructure development projects.
The meeting, chaired by Ajay Banga, President of the World Bank, is considered one of the two most significant annual gatherings jointly organized by the World Bank and the IMF. Somalia’s participation as a key member, within the first constituency group in Africa, highlights its growing role in global economic forums.
Concluding his remarks, the Minister stressed the urgent need to increase domestic revenue generation, enhance financial governance systems, and improve the country’s investment climate. He emphasized that these priorities remain essential as Somalia navigates both domestic challenges and the broader uncertainties of the global economic landscape.
