MOGADISHU, Somalia – A 2-day meeting between the Minister of Finance of the Federal Government of Somalia, and the member states of the Federal States met in Mogadishu.
The meeting at Decale Hotel within Aden Adde airport focused on financial reform, the unification of taxes, and the completion of the conditions set for the debt relief process.
Federal Finance Minister Bihi Iman Cige said they agreed on key issues regarding the unifying taxes in the country and how to speed up the implementation of the previous deal.
The talks also touched on the development projects that international partners support for Somalia, a country in the Horn of Africa that is heavily dependent on foreign help.
The minister of Finance from the Puntland state of Somalia did not attend the meeting and did not sign the agreement, although he was formally invited to the Mogadishu talks.
About 96% of Somalia’s GDP goes towards paying off its $5.2 billion national debt.
Last year, International Monetary Fund staff reached a staff-level agreement with Somalia that will allow the release of about $10 million to the East African country, once approved by the board.
