File Photo/Somali Times
Puntland’s finance minister, Mohamed Abdirahman, said that they are against Somalia’s debt forgiveness, as there is no political, security, and economic agreement. Puntland finance minister says IMF debt forgiveness may cause corruption in the Somalia government.
Minister Mohamed Abdirahman said that Puntland considers it a big risk to rush to forgive Somalia’s debts.
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Mohamed Abdirahman said, if the debt is forgiven in Somalia, the government will take billions of loans without an agreement on how to distribute them, which he said could lead to corruption.
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“Our argument is that, in order to agree on these preliminaries, the debt forgiveness should be suspended. Come to an agreement and let Somalia come to the table. When it is agreed upon, let the debt forgiveness happen,” said Mohamed Abdirahman.
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Puntland’s finance minister said that there is a need for Somalia to remain in the process of giving grants, while checking how much the country has agreed on the disputed items related to the country’s debt forgiveness.
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The Puntland finance minister’s statement came as the International Monetary Fund (IMF) announced that Somalia has made progress in meeting the final conditions for debt relief in December 2023.
Somalia government lead by Hassan Sheikh Mohamoud and his family every position of the government is committing corruption with his two wives, daughter, brothers, uncles, nephews and nieces. World Bank IMF should think twice before debt forgiveness and new loans been taken from Somalis and beneficial Hassan Sheikh’s family and his cronies according to Somali Times.
Read: Somalia President will become the richest man in Africa due to corruption
The European Union aid has been suspended due to corruption from Hassan Sheikh and his family.
IMF debt forgiveness means Somalia can take new loan arrangement which is a loophole Hassan Sheikh will be the richest man in Africa due to corruption.