Diaspora has big role as Somalia rebuilds economy, global ties: finance minister

WASHINGTON - Somalia’s 2-million strong diaspora has a huge role to play as the Horn of Africa country rebuilds its economy and resets ties with major international institutions after three decades as a “failed state,” Somalia’s finance minister said.

Somali Finance Minister Abdirahman Duale Beileh, a longtime member of the diaspora himself, will finalize a debt forgiveness agreement on Monday with the African Development Bank in Abidjan, another milestone as Somalia normalizes ties with the rest of the world. On March 31, Somalia officials will meet with Paris Club creditors, with non-Paris Club creditors to attend as well.

But he said he is also relying on help from Somalis living in the United States, Canada and elsewhere, who contribute about $2 billion or 40% of Somalia’s gross domestic product in remittances each year, to shore up trust in the government, invest in businesses and move the country forward.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former British finance minister says would have cut income taxFormer British finance minister Sajid Javid said he would have cut income tax cu... Right, tell us about it now go back to your bank and stop causing trouble As a Scot already paying the highest income tax rate in the UK, this would have been annoying
Source: Reuters - 🏆 2. / 97 Read more »

Germany has means to respond if coronavirus sparks economic crisis: finance ministerGermany would be in a position to enact a fiscal stimulus package should the cor... 👍 everything they did is going to come back on them 10 fold repbetoorourke this is what happens when you pass false judgment on someone Germany is in recession already. What 'means' are these? They can't even keep their own communities from turning into lawless Caliphates. Tambalea el mundo 2010, busquen sus hemerotecas o mejor aún información en Facebook..
Source: Reuters - 🏆 2. / 97 Read more »