Somalia enroute to Debt Cancellation

[AarLibaax]

Somalia sealed its debt relieve opportunity

By Webmaster on September 22, 2018
It is being reported that Somalia has fully met all the 27 requirements of global funds of the International Monetary Fund (IMF) that was conditioned in order to relieve from its withstanding debt.

The Minister of Finance of the FGS, Dr. Abdirahman Du’ale Bayle who speak to BBC Somali branch have discussed about meetings which they had with the IMF at Nairobi, he said, the meeting was ongoing for seven consecutive days.

This meeting which is quarterly is meant to assess the developments made by the FGS within that period of time.

IMF has told us, said the Minister, that a lot has been achieved in Somalia while the international community welcomed these, there is need to build on to these developments, added Dr. Bayle.


Dr Beileh

This regime is to be commended
2019 should be a great year for Somalia

 

[embarassing]

 

[AarLibaax]

Sweet.
Corruption & Qabyaalad will be history iA

 

[Cabdi]

FAKE NEWS this government failed in every metric known to man from security to economy the nation is in decline, ironically Mogadishu was far better off in HSM era than Farmaajo's.

 

[Ras]

Id rather we'd wait until the government has been properly elected and has the full mandate of the people to take on new debt.

The moment we get a blank slate the gov will immediately borrow more as soon as possible.

The current 5 billion dollars debt is manageable but 10-20 billion isn't.

 

[embarassing]

Id rather we'd wait until the government has been properly elected and has the full mandate of the people to take on new debt.

The moment we get a blank slate the gov will immediately borrow more as soon as possible.

The current 5 billion dollars debt is manageable but 10-20 billion isn't.

How will that or any of the major issues be dealt with without money?

 

[AarLibaax]

How will that or any of the major issues be dealt with without money?

Embarrassing aren't they. I think they expect the gov to deal with the issues using sea shells or marbles

 

[CaliTedesse]

Thank you Dr Bayle

 

[Ras]

How will that or any of the major issues be dealt with without money?

The current government can raise money through sustainable ways.

Create laws to protect contracts and property and they'll have billions coming through tax... even if it's just from the tiny place they control.

They don't want to do that because the government is run by crooks who gained their assets by shady methods and don't want any competition in an open fair market.

Do you want to saddle the next government with billions of dollars?

What would farmaajo do with the money?

Build an army?

He'll just waste it on failed initiatives and end up selling the nation's economic future to the lowest bidder when it comes time to pay up.

 

[Ras]

Embarrassing aren't they. I think they expect the gov to deal with the issues using sea shells or marbles

Close lol but what's wrong with using the resources within Somalia to fund our development?

Plenty of ores and arable land are available within each region of governance.

If they exploit them properly then they could pay for whatever they need using the Somali shilling that's backed by real national assets.

Funding for those projects could be done by private Somali investors as long as they're backed by fair trading laws which don't exist atm.

 

[Cognitivedissonance]

The rogue government in mogadishu is working closely with al shabaab farmaajo and khayre are funding Al shabaab

 

[Ahlubayt]

Onward and upward - Guuleysta Nolal iyo Nabad team -

Dr Beyle is one in a million -
And Honourable men - Honest- hard working civil servant.

 

[Shushue]

They can only spend on a places where taxes can be raised to pay back the debt

Complex bureaucracies are need to collect taxes

And Somalis hate taxes

 

[AarLibaax]

Onward and upward - Guuleysta Nolal iyo Nabad team -

Dr Beyle is one in a million -
And Honourable men - Honest- hard working civil servant.

Favourite civil servant with probably Minister Oomaar a close second.