Mogadishu (SONNA): The Minister of Finance, Mr. Bihi Iman Ige, presided over the monthly meeting of the Financial Governance Committee (FGC) on Monday. The FGC, a collaborative initiative between the Federal Government of Somalia (FGS) and the World Economic Organization, aims to enhance financial governance and transparency.
The meeting saw participation from key stakeholders, including representatives from the Ministry of Finance, the Central Bank, the Prime Minister’s Office, Mogadishu Port, the Immigration Agency, and Somalia’s international partners. The discussions centered on development strategies, boosting domestic revenue, strengthening financial management systems, and modernizing the national procurement process.
Minister Bihi emphasized the government’s commitment to transparency in public finance administration. He highlighted ongoing efforts to increase revenue and achieve financial self-sufficiency.
Established in early 2014, the FGC serves as a platform for dialogue on strategic financial governance issues. It brings together the FGS, donors, and international financial institutions (IFIs) to provide independent and transparent advice on policy and implementation. The FGC’s objective is to improve financial governance in Somalia, laying the foundation for good governance, economic development, and political stability. The committee meets every four to six weeks to discuss and address critical financial governance matters.
