Somali National News Agency
So
Ar
Search
  • Home
  • Local News
    Local NewsShow More
    Somali Security Forces Seize 189 Cartons of Illicit Drugs at Aden Adde Airport
    August 7, 2025
    Somalia’s Agriculture Minister Distributes Key Equipment to Farmers to Boost Production
    August 7, 2025
    Somali Finance Minister Welcomes UK Delegation to Mogadishu Port to Review Revenue Modernization
    August 7, 2025
    Somalia Participates in EAC Steering Committee Meeting to Guide Regional Development
    August 7, 2025
    Ministry of Planning and UN Discuss Harmonization of Development Plans in Somalia
    August 7, 2025
  • World News
    World NewsShow More
    Israel kills aid worker in Gaza amid rising starvation deaths, US envoy meets with hostages’ families
    August 3, 2025
    Ghana Donates 40 Metric Tonnes of Cocoa to Palestine in Act of Solidarity
    August 2, 2025
    Seven people in critical condition after car ramming at LA nightclub
    July 20, 2025
    Tourist boat capsizes in Vietnam’s Ha Long Bay, killing 37
    July 20, 2025
    Israel kills more than 50 in Gaza as UN warns of ‘catastrophic hunger’
    July 19, 2025
  • Articles
    ArticlesShow More
    Somali and Allied Forces Deal Major Blow to Al-Shabaab in Coordinated Offensive
    August 6, 2025
    Somalia’s Financial War Against Al-Shabaab: Key Achievements and Strategic Milestones (2022–2025)
    August 4, 2025
    H.E. Abdisalam Abdi Ali Dhaay: Driving Somalia’s Diplomatic Renewal and International Partnerships
    August 4, 2025
    National ID Enforcement in Somalia: A Strategic Plan to boost the Country’s Economy
    July 31, 2025
    The Return of the White Star: Somali Airlines Resumes Operations After Three Decades
    July 29, 2025
  • Business
    BusinessShow More
    Somalia Unveils the Blueprint for a Modern and Sustainable Mogadishu
    December 21, 2024
    Djibouti Launches $57.4 Million Youth Entrepreneurship Project to Combat Climate Change
    November 25, 2024
    FM meets Minister of Investment of Saudi Arabia
    October 28, 2024
    President Hassan Sheikh Inaugurates New LPG Storage Center in Mogadishu
    May 12, 2024
    Collaboration of ICT transformation for digital Infrastructure
    October 24, 2023
  • Sports
    SportsShow More
    Mogadishu Stadium to Host Star-Studded Match Featuring Somali Legends and International Football Icons
    May 27, 2025
    Arsenal held at Brighton while Man City bounce-back continues
    January 5, 2025
    Galmudug wins the Inter-State Football Tournament
    January 29, 2024
    Somalia set for two int’l friendlies ahead of WC qualifier clashes against Algeria and Uganda
    October 10, 2023
    Chicago woman, 104, skydives from plane, aiming for record as the world’s oldest skydiver
    October 3, 2023
  • Tenders
    TendersShow More
Reading: Somalia Concludes Productive Meeting with IMF and World Bank on Debt Relief Efforts
Share
Font ResizerAa
Somali National News AgencySomali National News Agency
  • SOMALI
  • ARABIC
Search
  • Home
  • Local News
  • World News
  • Articles
  • Business
  • Sports
  • Tenders
Follow US
©2023 || All rights reserved SONNA
Somali National News Agency > Blog > Local News > Somalia Concludes Productive Meeting with IMF and World Bank on Debt Relief Efforts
Local News

Somalia Concludes Productive Meeting with IMF and World Bank on Debt Relief Efforts

By Abdiqani Abdullahi
Last updated: June 15, 2023
3 Min Read
Share

Nairobi – The Minister for Finance of Somalia, Dr. Elmi Mohamud Nur, officially concluded a four-day meeting between the Ministry of Finance of Somalia, the International Monetary Fund (IMF), and the World Bank in Nairobi today. The meeting, which focused on Somalia’s debt relief efforts, marked a significant step towards the country’s economic recovery.

At the center of discussions was the Extended Credit Facility (ECF), an integral part of Somalia’s comprehensive debt relief program. Officials engaged in in-depth deliberations on various aspects, including the debt relief program itself, the restructuring of Somalia’s financial management, domestic revenue generation, Public Financial Management (PFM), and sound financial governance. The guidelines for debt relief and the completion of the final stage, known as the completion point, were also thoroughly examined.

Speaking during the closing ceremony, Minister Elmi Mohamud Nur expressed his satisfaction with the outcome of the meetings. He highlighted the substantial progress made in restructuring Somalia’s financial management system and the commendable efforts invested in achieving total debt relief. The Minister emphasized that the consensus reached on the ECF program with the IMF represents a significant milestone in Somalia’s journey towards complete debt relief.

“The four days of productive meetings with officials from the IMF and the World Bank have yielded remarkable results,” stated Minister Elmi Mohamud Nur. “We have made significant strides in the restructuring of our financial management system, bringing us closer to the goal of total debt relief.”

Minister Elmi Mohamud Nur further pledged his commitment to strengthening internal revenue collection, enhancing transparency in the country’s financial system, and promoting proper financial management. He underscored the critical role these measures play in Somalia’s pursuit of debt relief and its overall economic revitalization.

The meeting in Nairobi reflects the dedication of Somalia’s government to address its debt burden and create a solid foundation for sustainable development. By actively engaging with international partners like the IMF and the World Bank, Somalia is fostering a collaborative approach to overcome financial challenges and lay the groundwork for a prosperous future.

As Somalia progresses on its path towards debt relief, the international community continues to extend its support, recognizing the importance of Somalia’s economic stability not only for the country but also for regional and global stability. With renewed momentum, Somalia is poised to achieve its objective of total debt relief, paving the way for inclusive growth and a brighter future for its citizens.

 

 

Share This Article
Facebook Whatsapp Whatsapp Email Copy Link Print

MORE NEWS

Official Reopening of the Ministry of Foreign Affairs Archives

CultureEducationLocal News
November 23, 2024

Kenya’s small farmers find respite in avocados amid changing climate

NAIROBI(SONNA) As crop diseases and pests rise in Kenya amid a rapidly changing climate that…

March 11, 2023

Somali Security Forces Seize 189 Cartons of Illicit Drugs at Aden Adde Airport

Mogadishu, Somalia – A major operation involving the Office of the Attorney General and various…

August 7, 2025

Nimcaan Hilaac appointed to lead Waberi National Band

Mogadishu (SONNA)-Minister of Information, Culture and Tourism of the Federal Republic of Somalia, H.E. Mohamed…

March 3, 2020

YOU MAY ALSO LIKE

Hirshabelle President visits frontline areas in an ongoing offensive against Al-Shabaab militants

Mogadishu, (SONNA) – The President of Hirshabelle State of Somalia, H.E. Ali Abdullahi Hussein (Cali Guudlaawe), who is leading efforts…

Local News
March 9, 2025

Somali Deputy Speaker attends Inter-Parliamentary Union Conference in Angola

The second deputy speaker of the Somali Federal Parliament, Hon. Abdullahi Omar Abshirow, is participating in the 147th Inter-Parliamentary Union…

Local News
October 26, 2023

Somali Ambassador to Tanzania meets Foreign Minister

Dar es Salam, (SONNA) - The Ambassador of the Federal Republic of Somalia to Tanzania, Ilyas Ali Hassan had a…

Local News
March 18, 2025

Commerce Minister Meets Djibouti PM to Strengthen Economic Cooperation

Djibouti, (SONNA) - The Minister of Commerce and Industry of the Federal Government of Somalia, H.E Mahamud Aadan Geesood, held…

Local News
April 22, 2025

Somali National News Agency established in 1964. It is one of the main pillars of the Ministry of Information, Culture, and Tourism.

  • Home
  • Local News
  • World News
  • Articles
  • Business
  • Sports
  • Tenders
  • SNTV
  • RADIO MOGADISHU
  • DALKA JOURNAL
  • TOURISM DEPARTMENT

Follow US: 

  • MoICT
  • VILLA SOMALIA
  • OPM SOMALIA

All rights reserved SONNA

©2023

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?