Congratulations to #Somalia as the next Chair of @hoainitiative.
Paying tribute to Brother Minister Ahmed Shide @MoF_Ethiopia#Ethiopia for his excellent work during his leadership.
Looking forward working closely with Minister @BihiEgeh
A year ago today, I had the honour of witnessing #Somalia reaching the HIPC Completion Point in Washington DC with H.E. President Dr. @HassanSMohamud and colleagues from the @WorldBank@IMFNews.
This was a hard-won reform led struggle spanning nearly a decade which we achieved in one go. This was a very proud day for our nation.
A year later, we have successfully negotiated and agreed debt relief with the Paris Club and signed subsequent agreement to finalise the process. We have done the same with most non Paris Club Creditors too. Furthermore, we have contracted no new debts and are maintenaning macroeconomic stability underpinned by increased revenues, deepening financial sector reforms and strengthening public financial management.
As a government we remain steadfast in the deepening of our reform program further and growing the economy to finance more basic public services including recruiting more teachers and investing in health services.
Hodan Osman, President of Somali Development and Reconstruction Bank says ' This current shift of global order- multipolarity is bringing much-needed options to Africa. It is an opportunity.'
#FTAfrica
I thank the Council of Ministers meeting yesterday for approving the 2025 budget Cabinet in an extraordinary session chaired by H.E. @SomaliPM@HamzaAbdiBarre. Our national budget has risen to a total of $1,342,476,311. This is an increase of over 24% from last year.
The 2025 budget is anchored on consistently increasing domestic revenue owing to better tax administration, policies and laws. The key focus of public investment firmly remains working towards covering the operational cost of government and investing in basic public services like security, health and education. Our government is committed to raising domestic revenue, strengthening Public Financial Management and growing the economy to create opportunities in #Somalia. The 2025 budget will now be submitted to the lawmakers in Parliament.
NEW APPOINTMENT: The @AfDB_Group has appointed Mrs. @NnennaNwabufo as Vice President for Regional Development, Integration and Business Delivery, effective 4th October 2024: https://t.co/WVN7xGM8ML
H.E. President @HassanSMohamud signed Presidential Decree No. 235, establishing the National Climate Fund (NCF), and therein appointed Mr. Liban Dahir Obsiye as its Executive Director. The NCF will be tasked with mobilizing multi-sectoral resources as part of Somalia’s commitment to enhance climate change adaptation and mitigation.
#BREAKING
UN General Assembly ELECTS the following countries as Security Council non-permanent members for two-year terms starting 1 Jan 2025:
🇵🇰 Pakistan
🇸🇴 Somalia
🇵🇦 Panama
🇩🇰 Denmark
🇬🇷 Greece
Follow https://t.co/cdvB97txGj for updates
It was an honour to open Dialogue on the #Somalia interim-Country Strategy Paper 2022-2024 Completion Report and New Country Strategy Paper 2025-2029 with the @AfDB_Group today. Dialogue will be #Somali government wide and focus on reviewing and asserting our national priorities.
Thank you Hon. Egeh. We look forward to further engagements with the Federal Government of Somalia as we finalise the Interim Country Strategy Paper (2022-24) Completion Report and embark on the preparation of a new Strategy.
Exciting News for #Somalia! 🇸🇴 Today marks a pivotal moment as Somalia achieves the #HIPC Completion Point.
Join @VictoriaKwakwa in celebrating a new chapter of resilience and discover how this opens doors to new opportunities for economic growth. @IMFNews
This is a momentous day as #Somalia is now officially a graduate of the #HIPC program. Congratulations to all our people. We thank all our valuable international partners. We will continue with our empowering reform implementation to deliver a better future for the #Somali people
We are hopefully days away from reaching the HIPC Completion Point on Wednesday 13th 2023 after both the Boards of @WorldBank and IMF finalise their deliberations. Our reform journey has been rigorous and rewarding. We will share with you key achievements leading up to Wednesday.
🇸🇴 ✌️ Somalia officially joins the East African Community, reinforcing. ties and opening new doors for progress and partnership. It becomes the 8th member of the EAC.
We have reached an important and historic agreement with the IMF on the way forward after we achieve debt relief in December 2023. After over 30 years, #Somalia will finally normalise relations with the International Financial Institutions. Please read:
https://t.co/8jaNbuBEHd
Today we have successfully concluded the 6th Review of the ECF reform program with the IMF. We are on track to achieve debt relief by December 2023. This is a national effort across many institutions in #Somalia which will benefit the #Somali people.
It was a pleasure to meet with @AfDB_Group Director General for our region @NnennaNwabufo today. We discussed Bank operations and partnership priorities. The Bank is making strategic investments in #Somalia at this critical time of economic reform implementation and progress