Onward and forward - hore ayaa loo soconaayaa

[Miskiin-Macruuf-Aqiyaar]

 

[Miskiin-Macruuf-Aqiyaar]

 

[Abdul]

 

[Miskiin-Macruuf-Aqiyaar]

4 hours ago, Abdul said:

 

Halyeeyda qaranka, guul. 

[maakhiri1]

GORGOR the 4th battalion ready for deployment!

 

[maakhiri1]

GorGor commandos.

 

 

[galbeedi]

They rall, tough and fearless.

Now i know wgu Kenya objected America and Turkey training Somali army.

Did you guys heard that the most loud spoken opposition leader Ina C/shakuur said, " The Turkish should stop training rge Somali army" 

Rather than criticize the method the soldiers used , he is asking ro stop the rebuilding of the army. The fool doesn't understand that if he becomes president these are the forces he might need to defeat Al-shabaab.

[Haatu]

5 hours ago, galbeedi said:

They rall, tough and fearless.

Now i know wgu Kenya objected America and Turkey training Somali army.

Did you guys heard that the most loud spoken opposition leader Ina C/shakuur said, " The Turkish should stop training rge Somali army" 

Rather than criticize the method the soldiers used , he is asking ro stop the rebuilding of the army. The fool doesn't understand that if he becomes president these are the forces he might need to defeat Al-shabaab.

Xaaraan quutaha mujrimka ah ee badda wadankiisa gatay in hadal laga dhagaysto maba aha. Once the country is stable he should be one of those tried for treason. Him and the fake Sheikh Mundul president of his. Either that or they should be tried for incompetence. Labadaas mid uun bay xaajadooda u dhici. So it comes as no surprise he is against the rebuilding of XDS. He is after all a foreign agent.

[maakhiri1]

Member of Gorgor  4th Battalion 

 

[maakhiri1]

 

 

[Miskiin-Macruuf-Aqiyaar]

Newest 5-Star hotel in Muqdisho. It was just opening when I left from Xamar back in Oktoobar, 2019.

 

[Abdul]

 

[Miskiin-Macruuf-Aqiyaar]

5 hours ago, Abdul said:

 

To Fiqi iyo Mahad Salaad, Laftagareen xaaraan ku yimid but Qoortagareen xalaal ku yimid miyaa waa kuwaanaa iyaga u dhoolacaddeynaayee. What an ultimate political opportunists and hacks.

[Miskiin-Macruuf-Aqiyaar]

Somalia Becomes 182nd Member of Multilateral Investment Guarantee Agency

The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, is pleased to announce that the Federal Government of Somalia has become the 182nd member of the Agency, following normalization of its financial relationship with the World Bank. Against the backdrop of the COVID-19 pandemic, Somalia’s membership affords it new opportunities for drawing foreign direct investment and fostering economic growth in the coming years.

“I applaud the Federal Government of Somalia on successfully meeting its membership requirements with MIGA,” MIGA Executive Vice President Hiroshi Matano said. “In the face of the coronavirus outbreak and uncertainty about the capacity in Sub-Saharan Africa to respond, Somalia’s membership with MIGA marks an important milestone toward realizing the country’s long-term goals of economic growth and prosperity. We look forward to working with Somalia and the investment community to deliver real results on the ground.”

While Somalia has a vibrant and resilient private sector with high potential for investment and growth, its current challenges include the need to improve business regulation, enhance trade facilitation and transparency, and manage security risks. MIGA’s experience working in other conflict-affected states will inform its dialogue with prospective investment partners on these and other important issues.

“Somalia’s vibrant private sector is key to our national development, economic prosperity and social progress. Membership in MIGA will ensure support to our private sector as well as foreign investors to expand, invest and create opportunities to enable sustainable development at a crucial time for the global economy,” said Somalia’s Minister of Finance, Abdirahman Duale Beileh.

MIGA has already begun discussions with funds interested in investing in Somalia, including in the agribusiness and small and mid-sized enterprise finance sectors. In the intermediate term, MIGA is exploring opportunities in the information and communications technology and energy. MIGA will also look at opportunities with the Somali diaspora to identify opportunities for further high-impact foreign investment that will spur economic development and growth in Somalia.

The World Bank Country Director for Somalia, Felipe Jamarillo said, “New efforts by the government to restore stability and governance, and to attract and protect investment through proper legal and regulatory governance, are opening exciting opportunities for development in Somalia. We are delighted that with membership of MIGA completed, the full complement of World Bank Group instruments is now open for business to support Somalia’s revival.”

The World Bank program in Somalia is largely funded by the Multi-Partner Fund and support from pre-arrears clearance grants. The current MPF portfolio focuses on core state functions, socio-economic recovery and urban development in Somalia. The MPF is engaging with the government to support the development of a professional and sustainable civil service. These reforms are being implemented federally and in Federal Member States to ensure national coverage.

Xigasho

[Miskiin-Macruuf-Aqiyaar]

DEBT RELIEF TO SOMALIA

The representatives of the Paris Club creditor countries agreed on 31 March 2020 with the Government of the Federal Republic of Somalia to restructure its external public debt. This was the first ever “virtual” negotiating meeting of the Paris Club. The Paris Club congratulates Somalia for having reached its Decision Point under the enhanced initiative for the Heavily Indebted Poor Countries (enhanced HIPC Initiative) in March 2020.

This agreement was concluded under the so called “Cologne terms” designed by the Paris Club to provide interim debt relief as part of the HIPC Initiative. This leads to the immediate non-ODA debt cancellation of US$ 1.4 billion in debt owed by Somalia to Paris Club creditors.

Somalia is expected to reach its HIPC Completion Point by 31st March 2023 or earlier and receive the remainder of the debt reduction envisioned under the enhanced HIPC Initiative already endorsed by the international community in 1999. On an exceptional basis, considering Somalia’s very limited capacity of payment, and provided that it continues to implement satisfactorily an IMF supported program, no payments are expected from Somalia until at least 31st March 2024.

Several creditors intend on a bilateral basis to grant additional debt relief to Somalia beyond the terms set today in the Paris Club agreement.

Somalia is committed to devote the resources that otherwise would have gone to Paris Club creditors to priority investments, as identified in its ninth National Development Plan (NDP-9). Somalia is also committed to seek comparable debt relief from non-Paris Club creditors.

Representatives from Kuwait Fund for Development, Saudi Fund for Development and the Abu Dhabi Fund for Development also attended the meeting as observers. They expressed their support to the terms of the agreement between the Paris Club and the Government of Somalia and indicated their willingness to provide to Somalia comparable terms under the framework of Enhanced HIPC Initiative and in accordance with terms and conditions adopted by their respective Boards of Directors.

The representatives of the Paris Club members expressed their commitment to implement the final component of debt relief contemplated under the enhanced HIPC Initiative as soon as Somalia meets the conditions to reach the Completion. The IMF and the World Bank currently estimate that those creditors will then have delivered total debt relief of approximately US$ 1.7 billion (in net present value terms). This amount does not include additional efforts that Paris Club members intend to provide at completion point.

Technical notes

1. Somalia’s economic program is supported by a three year arrangement under the Poverty Reduction and Growth Facility and an Extended Fund Facility, both approved by the Board of the International Monetary Fund on 24 March 2020. Somalia reached the decision point under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative in March 2020.

2. The stock of debt owed to Paris Club creditors and to participating non-Paris Club creditors as of 31st October 2019 was estimated to be more than US$ 3.0 billion in nominal terms, of which more than 99% consisted of arrears and late interest.

3. The cut-off date (1st October 1984 for Somalia) is defined when a debtor country first meets with Paris Club creditors. It is not changed in subsequent Paris Club treatments. In accordance with Paris Club rules, credits granted after this cut-off date are not subject to rescheduling or cancellation. In this case, on an exceptional basis, all these amounts were deferred until after 2024. The cut-off date is designed to protect credits granted by Paris Club creditors after this date. It therefore helps restore access to credit for debtor countries after a Paris Club treatment.

4. This agreement consolidates around US$ 2.7 billion, most of which is composed of arrears and late interests. It cancels a total of US$ 1.4 billion and reschedules around US$ 1.3 billion. These rescheduled amounts will be addressed for debt relief when Somalia reaches Completion Point.

5. On an exceptional basis, creditors have also agreed to defer until after 2024 the repayment of arrears accumulated by Somalia on short term and post cut-off date debts, the maturities falling due during the consolidation period under the post cut-off date debts as well as all moratorium interest due during the consolidation period on the rescheduled and deferred amounts.

Xigasho