MOGADISHU, Somalia – Ahmed Gutale, the Auditor General of Somalia announced the submission of critical audit reports for World Bank-funded projects, potentially averting a financial crisis.
The submission came just one day after a leaked World Bank letter to Somalia’s finance ministry hinted at possible cuts, citing delays in receiving critical financial papers.
Gutale shared his happiness on X, formerly known as Twitter, by writing, “The Office of the Auditor General FRS has successfully submitted the Audit Reports for all World Bank-funded projects implemented by the Federal Government of Somalia.” He thanked the Ministry of Finance, Project Coordinators, and the World Bank for working together to reach the key deadline.
In its discussion with the Somali government, the World Bank highlighted the importance of submitting the audit report by March 31, 2024, after missing the initial deadline of June 30, 2023.
This report was critical to maintaining the flow of financial assistance, including Somalia’s eligibility for $275 million in International Development Association (IDA) Grants in 2024.
