TVC NEWS The President of the Federal Republic of Somalia, H.E Hassan Sh. Mohamud has met with Ambassadors representing the donor countries, to discuss the creation and the improvement of the Somali Financial Institutions.
The President was accompanied by Minister of Finance H.E Mohamud H, Suleiman, And the Governor of Central Bank Abdi Salaam Omar. Ambassadors and representatives of USA, UK, EU, Japan, Italy, Turkey, Denmark, Norway,
Sweden,Findland,World Bank, G7+and DFID were present. The President thanked the Ambassadors and the representatives, welcomed them to Mogadishu and clearly set out the importance of a functioning public finance system for the government of Somalia. He said “Onecritical policy of our Six Pillar Plan is to create an effective system“.
With the creation of aspecial financial facility (SFF) and public financial management (PFM) structure Somalia willstart to move from relief to recovery. Corruption should not, be tolerated in Somalia“.
The President also confirmed that he will hold bilateral discussions with donors centered on the work and resources required to implement this policy The President concluded, to secure Somalia’s public resources there must be effective,accountable, and transparent financial institutions, and Somalia needs to be supported in the creation of these institutions.