Finance Minister successfully concludes IMF-World Bank Annual Meetings in Bali
The Minister of Finance, Dr.Abdirahman Beileh, successfully concluded his visit to Bali Indonesia, for the Annual Meetings of the International Monetary Fund (IMF) and World Bank.
During the meetings the Minister and his delegation held key discussions with the senior leadership of the IMF and World Bank as well as representatives from other International Financial Institutions, including the Islamic Development Bank and African Development Bank. He also met with bilateral partners, including, the USA, UK, Sweden, and Denmark. Furthermore, the Minister addressed the Governors’ meetings with the leadership of both the IMF and World Bank.
In all his engagements, the Minister briefed the participants on Somalia's general state of progress and, particularly, its successful implementation of the IMF SMP3 program. He underlined the need for further support towards Somalia's debt relief efforts by the international community given the government's clear track record of success in the implementation of the reform program. The Minister made clear that Somalia was committed to continue its effort On implementing the reform program to reach the Summit to achieve debt relief and gain access to International Development Assistance to rebuild the country through job creation, infrastructure investment and the provision of social services.
The Minister was also invited to speak on a panel with distinguished guests, including, the World Bank President Jim Yong Kim and the UN Secretary General, António Guterres, on tackling famine under the new Famine Action Mechanism (FAM) jointly led by the World Bank and UN. In another panel with the Vice President of the World Bank for Africa, Hafez Ghanem, and the Bank's Chief economist for Africa, Dr. Albert G. Zeufack, the Minister spoke of the importance of investing in Human Capital as a driver of stability, progress and prosperity in Africa.
During the Annual Meetings, Minister Beileh held a bilateral meeting with his Indonesian counterpart, H.E. Sri Mulyani. In this meeting both sides agreed to cooperate in knowledge exchange, explore how to strengthen commercial ties and increasing trade to raise domestic revenues further on both sides.