MOGADISHU (Halbeeg News)- Somalia’s Finance Minister, Abdirahman Duale Beyle said final meeting to decide the debt cancellation process is scheduled next year.
Dr. Beyle said the previous meeting held in Washington and Addis Ababa respectively with World Bank officials were fruitful.
Speaking during a monthly media briefing in his Mogadishu office on Thursday, Minister Duale also said he held meeting with his regional counterparts on way forward about the World Bank project supported by the European Union on the integration of the economy in the regional countries.
The finance minister called upon Somali House of People and Upper House of parliament to speed up the approval of the pending finance and economic reforms, tax, and revenue bill saying there are very crucial as far as the debt cancelation procedure is concerned.
The debt relief process is very vital to accelerate new financial resources to be channeled for reconstruction and development and to encourage greater investments in the horn of the African country.
Somalia has over USD 4.6 billion debt to be canceled in the process which started a few years ago.
The recuperating horn of the African state has already received huge support from the African Union and the Arab league in the process.
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