Washington — Bihi Iiman Igeh, Somalia's finance minister, delivered a wide-ranging address at a plenary session chaired by Ajay Banga, president of the World Bank, highlighting fiscal reforms and economic priorities for Somalia.
The meeting, held under the framework of the World Bank Africa Group 1 Constituency, is one of the two most significant gatherings during the annual meetings jointly organized by the World Bank and the International Monetary Fund.
Somalia is a key member of the constituency, where policymakers review development financing strategies for African economies.
In his remarks, Cige emphasized the importance of boosting domestic revenue, strengthening public financial management, and improving the country's investment climate. He also pointed to global economic headwinds and domestic challenges that have affected Somalia's fiscal space and resource mobilization efforts.
The session focused in particular on World Bank financing mechanisms for African countries. Somalia, which has increasingly benefited from grants and development projects supported by the institution, noted that many initiatives are progressing steadily across the country, according to the minister.
Officials said the discussions underscored the need for continued partnership between African governments and international financial institutions to sustain growth and resilience.
