Achievements of the Minister of Finance of the Federal Republic of Somalia Dr Abdirahman Beileh in recent years:
[Thread]
- Dr Abdirahman Beileh successfully managed to clear our debt towards Norway. Which was $366 million
- Dr Abdirahman Beileh managed to successfully clear our debt to the World Bank. Which now enables us to get our first loans in 30 years.
- Dr Abdirahman Beileh also managed to clear us of our debts to the African Development Bank Group which was $122,55 million. The Bank Group will now immediately provide a new policy-based operation to help boost economic growth and accelerated development in Somalia.
- Dr Abdirahman Beileh managed to clear our debt to the US. Which was $1 billion. The agreement was signed at the American Embassy in Mogadishu. Signing this agreement was possible because Somalia has implemented significant economic reforms in recent years.
- Dr Abdirahman Beileh has also managed to clear us of our $1,4 billion debt to the Paris Club creditors.
He has also managed to relief us of our debts to France which was $306 million.
Managed to reduce our debt to the IMF from $5,2 billion to 557 million.
Made us the 182nd member of @MIGA ( Multilateral Investment Guarantee Agency is an international financial institution which offers political risk insurance and credit enhancement guarantees.)
This will open the gates for the international investors and encourage them to invest without worrying their capital being alienated in Somalia. This could potentially help our economy grow rapidly.
Dr Abdirahman beileh signed the Development Policy Grant Agreement with @WorldBank in Washington. This is very important for Somalia's re-engagement with the Bank & for Somalia to have access to International Development Association Grants for its development.
Despite the COVID-19, Dr Abdirahman Beileh and his team have managed the situation quite well. https://mof.gov.so/fiscal/download.html
Due to the progress of Beileh and his team the Council of Ministers of the Federal Government of Somalia has approved the 2021 Budget, totaling $ 671.8 million. Which is an 46% increase.
Hopefully @DrBeileh and his team can continue the good work next year.
- @KingYusufYusuff @SomPundit @SomUtd21 @therealwadani @DrNabadNolol @Abdiaziz_Abdii @Fuad_Murcood @WeTheHorn @Somali_Lawyer @Somalia_MENA RT & Likes appreciated 🙏🏾
You can follow @NLZaki.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:

By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.