Mogadishu, Somalia — The Minister of Finance of SomaCatriona Lainglia, Bihi Iman Cige met with top United Nations officials in Mogadishu, the country’s capital on Sunday.
The United Nations Special Envoy for Somalia Catriona Laing and the United Nations Deputy Envoy, the Coordinator of Humanitarian Aid, George Conway discussed the minister Somalia’s recent financial achievements.
“It was great to meet with Catriona Laing and George Conway to discuss Somalia’s economic reform program successes and challenges. We agreed on the importance of our cooperation to raise domestic revenue, grow the Somali economy, create jobs, and achieve @SDG2030,” said the minister of finance.
Catriona Laing reaffirmed strong UN support for the ambitious economic reform agenda ahead.
The Federal Government of Somalia has achieved significant progress in its push toward a stable, safe and prosperous country, according to the United Nations.
On the economic front, the International Monetary Fund and the World Bank approved in December Somalia’s Completion Point under the enhanced Heavily Indebted Poor Countries Initiative.
That means Somalia reduced its external public debt from $5.3 billion at end-2018 to $600 million by the end of last year.
The Completion Point was achieved through the implementation of a series of reforms during the past several years.
And Somalia can now access new external financing to help accelerate economic growth, improve social conditions, and raise its people out of poverty.