Somalia Reaches Decision Point

[embarassing]

To be announced tomorrow.

 

[embarassing]

Also earlier today,


New dawn for Somalia: Arrears owed to the African Development Bank Group cleared

Arrears on loans owed by Somalia to the African Development Bank Group have been cleared following the payment in full of $122.55 million by the governments of the United Kingdom and the European Union, marking the end of sanctions and the resumption of full re-engagement between the Bank Group and the East African nation.

The long road to resolution of Somalia’s debt arrears began in 2014 and included the completion of three Staff Monitored Programs of the International Monetary Fund, and significant advances on a fourth program.

The process saw the high level of political commitment and consistent engagement of Somali President Mohamed Abdullahi Mohamed 'Farmaajo', and Prime Minister Hassan Ali Khayre. This translated into the implementation of reforms that gave confidence to international financial institutions, including the African Development Bank and the International Monetary Fund.

Speaking on behalf of the Somali government, Minister of Finance, Abdirahman Beileh, said: “The settlement of the arrears of Somalia to the African Development Bank, is a new beginning for us in Somalia. We stuck with our reforms, we were persistent, and it has paid off”.

In response, Bank President Akinwumi Adesina noted that it was a historic moment for Somalia. “I am absolutely delighted that the African Development Bank provided the leadership needed to push for and successfully negotiate the arrears clearance for Somalia. It was a reflection of the power of partnerships and consensus building,” Adesina said.

Adesina further noted, “I commend the government of Somalia for their diligence in implementing reforms, and the UK government and the European Union for paying off Somalia’s arrears to the African Development Bank Group. Together, we got it done for the people of Somalia.”

The Bank Group will immediately provide a new policy-based operation to help boost economic growth and accelerated development of Somalia.

The Bank’s current portfolio in Somalia totals $135 million, covering operations in the agriculture, water and sanitation, transport, social and energy sectors, and capacity building for multiple sectors of the economy.

 

[DR OSMAN]

@embarassing untill I see Somalia get 500 million infrastructure program loan from the IMF, I don't believe anything has been cleared. Somalia owes so many countries debt or banking institutions, it will take a decade just to clear one like african development bank

 

[Adaawe]

@embarassing untill I see Somalia get 500 million infrastructure program loan from the IMF, I don't believe anything has been cleared. Somalia owes so many countries debt or banking institutions, it will take a decade just to clear one like african development bank

Dude are you in finance? If not Google what Paris club is and come back. Jaahilnimo Naga jooji sxb

 

[abdiwarrior]

The money shouldn't be used in south itll be wasted it's better off used in North.

 

[kickz]

Huge day tomorrow.

Expecting big projects to be announced soon like Ports Devlopment;

The money shouldn't be used in south itll be wasted it's better off used in North.

It will be used everywhere

 

[Ras]

Hopefully there'll be a transparent independent committee that would ensure we don't get robbed again.

 

[Removed]

Not a dime should be taken on loan whilst their remains rampant corruption.

 

[Mad-MullaH]

these kids dont know how corrupt Somalia is..the heads of the government are all thiefs..they about to sell Somali oil royalties for free..lets not foget the Somalia China fishing deal..fucking disgrace

 

[Ras]

Not a dime should be taken on loan whilst their remains rampant corruption.

Unfortunately there'll always be corruption in this neighborhood.

As long as they limit themselves to less than 100m we could survive.

However a large billion dollar infrastructure project before they have the mandate of the people is unjustifiable regardless whether we need it or not.

You have all the permission in the world to rob us blind after we elect you in a general election. Until then be content with an 8 figure payout.

 

[Removed]

Unfortunately there'll always be corruption in this neighborhood.

As long as they limit themselves to less than 100m we could survive.

However a large billion dollar infrastructure project before they have the mandate of the people is unjustifiable regardless whether we need it or not.

You have all the permission in the world to rob us blind after we elect you in a general election. Until then be content with an 8 figure payout.

Corruption isnt a given, if politicians knew they could lose a hand how many would steal? Strict rules are needed with incorruptible enforcers. Thats the only way we could excel past the low state of African countries.

 

[Gadhwayne]

Not a dime should be taken on loan whilst their remains rampant corruption.

No more loans. Also repudiate any loans to Afweyne, atleast loans made after he lost to the Derg. Especially any loans made after he reached the infamous antiGalbeed antiSNM deal with Manguste

 

[kickz]

 

[kickz]

Somalia got approved, the government just got access to a whole lot of development grants

Spoiler

You don't have permission to view the spoiler content. Log in or register now.

 

[.279]

Mashallah. Guul iyo gobonimo

 

[embarassing]

 

[Bohol]

Excellent.

 

[Yahya]

Great news. This will mashallah help the children in every region that need help. Dr beileh has done a good job of keeping them funds out of corrupt hands.

 

[kickz]

2nd Independence day of Somalia was today according to PM Kheyre

 

[SomaliMVP]

2nd Independence day of Somalia was today according to PM Kheyre

Only $557m debt left. If I pay the rest, can I become president?