A meeting between the Federal Government of Somalia, the International Monetary Fund (IMF) and the World Bank was held in Nairobi, Kenya, where the ECF (Extended Credit Facility) program was discussed in the Debt Forgiveness process.
The conference, which lasted for 4 days, analyzed the Somalia Debt Relief process, financial reform, internal revenue, the Public Financial Management (PFM) system and good governance. The focus was also placed on the conditions of Somalia’s loan forgiveness and the completion of the decision-making point (Completion Point).
Somalia’s Minister of Finance Dr. Ilmi Mohamud Noor who closed the meeting said that the 4th day of the meeting was focused on the priority issues of Somalia’s financial reform and the completion of the Debt Forgiveness Program where most of the conditions for development have been made.
The Minister of Finance of Somalia noted that the measures and cooperation currently achieved in the ECF Program of the IMF are closer to the completion of the overall Debt Forgiveness of Somalia.
