Mogadishu (SONNA): The Minister of Finance, Mr. Bihi Iman Ige, presided over the month-to-month assembly of the Monetary Governance Committee (FGC) on Monday. The FGC, a collaborative initiative between the Federal Authorities of Somalia (FGS) and the World Financial Group, goals to boost monetary governance and transparency.
The assembly noticed participation from key stakeholders, together with representatives from the Ministry of Finance, the Central Financial institution, the Prime Minister’s Workplace, Mogadishu Port, the Immigration Company, and Somalia’s worldwide companions. The discussions centered on growth methods, boosting home income, strengthening monetary administration methods, and modernizing the nationwide procurement course of.
Minister Bihi emphasised the federal government’s dedication to transparency in public finance administration. He highlighted ongoing efforts to extend income and obtain monetary self-sufficiency.
Established in early 2014, the FGC serves as a platform for dialogue on strategic monetary governance points. It brings collectively the FGS, donors, and worldwide monetary establishments (IFIs) to supply impartial and clear recommendation on coverage and implementation. The FGC’s goal is to enhance monetary governance in Somalia, laying the muse for good governance, financial growth, and political stability. The committee meets each 4 to 6 weeks to debate and handle important monetary governance issues.
