## Somalia's Finance Minister on Economic Development, IMF F&D ## Source details **Canonical URL:** [Somalia's Finance Minister on Economic Development, IMF F&D](https://www.imf.org/en/publications/fandd/issues/2020/03/interview-with-somalia-finance-minister-abdirahman-dualeh-beileh-trenches) ## Other formats - [Markdown version](/en/publications/fandd/issues/2020/03/interview-with-somalia-finance-minister-abdirahman-dualeh-beileh-trenches/index.md) - [Structured JSON version](/en/publications/fandd/issues/2020/03/interview-with-somalia-finance-minister-abdirahman-dualeh-beileh-trenches/index.json) - [Bundle manifest](/en/publications/fandd/issues/2020/03/interview-with-somalia-finance-minister-abdirahman-dualeh-beileh-trenches/bundle-manifest.json) ## Bibliographic details - Published: March 1, 2020 --- ### Context and background - Interview with Somalia’s Finance Minister Abdirahman Dualeh Beileh, edited for length and clarity. - Publication: F&D Magazine, "Rebuilding Somalia", March 2020. - Somalia experienced "no recognized government for 20 years" and a "total lack of institutions" prior to 2012. - Turning point identified as 2012 when "the first government was elected in a manner that resembled normalcy." ### Governance and institutional rebuilding - Major governance challenges described: "total suspension of law and order," reliance on clans and elders, loss of records and institutional memory. - Progress noted: establishment of a functioning government, agreement on bills to govern finances, taxes, and customs; some laws "have already been harmonized" with ongoing work supported by the IMF and international community. - Security remains a concern: "There are still some security problems, some terrorist elements in Somalia," but "by and large, we have rules that guide our economy nationwide." - Political-economic objective articulated: "one nation, one economy, and one budget" as a common agenda. ### Debt and access to external finance - Total estimated debt: $5.3 billion. - Constraint described: lack of access to international financial institutions and concessionary/grant resources while in arrears. - Strategy: prioritize clearing arrears through the Heavily Indebted Poor Countries Initiative to regain access to grant resources from the IMF, the World Bank, the AfDB, and other institutions. - Intended use of reaccessed resources: rebuilding the country to "generate more jobs." ### Labor market and demographics - Demographic statistic: "young people making up 70 percent of the population." - Policy priority: create job opportunities for youth; internal resource mobilization so "the government’s budget must be funded by internal resources" within five years. ### Diaspora and remittances - Diaspora described as "a blessing" contributing businesses, skills, and remittances to Mogadishu and Somalia broadly. - Quantified impact on household food security during crisis: "I would say 80 to 90 percent of Somali families were fed during our period of difficulty thanks to the diaspora community." ### Vision and near-term scenario (five-year outlook) - Ambition: "If the current trajectory holds, we can be a middle-income country." - Target conditions in five years: - A self-sufficient government "not asking for handouts." - Government budget funded by internal resources. - Continued need for investment due to "infrastructure has been totally destroyed." ### Role of culture in development - Cultural resilience: "when we lost everything else, the culture and the letters remained." - Cultural expression (poetry and songwriting) presented as a unifying force and a means of articulating national identity and emotions during recovery. *Source: Somalia's Finance Minister on Economic Development, IMF F&D (F&D Magazine, March 2020).* --- ## Content in this bundle - **إعادة بناء الصومال** - [إعادة بناء الصومال (Markdown version)](/-/media/files/publications/fandd/article/2020/march/ar/trenches.pdf.md){rel="alternate" type="text/markdown"} - [إعادة بناء الصومال (PDF)](/-/media/files/publications/fandd/article/2020/march/ar/trenches.pdf){rel="external" type="application/pdf"} - **Reconstruir Somalia ● Finanzas y Desarrollo ● Marzo de 2020** - [Reconstruir Somalia ● Finanzas y Desarrollo ● Marzo de 2020 (Markdown version)](/-/media/files/publications/fandd/article/2020/march/es/entrevista-con-ministro-hacienda-somalia-abdirahman-dualeh-beileh-trincheras.pdf.md){rel="alternate" type="text/markdown"} - [Reconstruir Somalia ● Finanzas y Desarrollo ● Marzo de 2020 (PDF)](/-/media/files/publications/fandd/article/2020/march/es/entrevista-con-ministro-hacienda-somalia-abdirahman-dualeh-beileh-trincheras.pdf){rel="external" type="application/pdf"} - **Une Somalie en reconstruction — Entretien avec Abdirahman Dualeh Beileh** - [Une Somalie en reconstruction — Entretien avec Abdirahman Dualeh Beileh (Markdown version)](/-/media/files/publications/fandd/article/2020/march/fr/entretien-avec-ministre-des-finances-abdirahman-dualeh-beileh-en-premiere-ligne.pdf.md){rel="alternate" type="text/markdown"} - [Une Somalie en reconstruction — Entretien avec Abdirahman Dualeh Beileh (PDF)](/-/media/files/publications/fandd/article/2020/march/fr/entretien-avec-ministre-des-finances-abdirahman-dualeh-beileh-en-premiere-ligne.pdf){rel="external" type="application/pdf"} - **Somalia’s Finance Minister on Economic Development – IMF F&D** - [Somalia’s Finance Minister on Economic Development – IMF F&D (Markdown version)](/-/media/files/publications/fandd/article/2020/march/interview-with-somalia-finance-minister-abdirahman-dualeh-beileh-trenches.pdf.md){rel="alternate" type="text/markdown"} - [Somalia’s Finance Minister on Economic Development – IMF F&D (PDF)](/-/media/files/publications/fandd/article/2020/march/interview-with-somalia-finance-minister-abdirahman-dualeh-beileh-trenches.pdf){rel="external" type="application/pdf"} - **重建索马里 - 前 沿 - 金融与发展 - 国际货币基金组织季刊 -2020年3月号·第57卷·第1期** - [重建索马里 - 前 沿 - 金融与发展 - 国际货币基金组织季刊 -2020年3月号·第57卷·第1期 (Markdown version)](/-/media/files/publications/fandd/article/2020/march/zh/trenches.pdf.md){rel="alternate" type="text/markdown"} - [重建索马里 - 前 沿 - 金融与发展 - 国际货币基金组织季刊 -2020年3月号·第57卷·第1期 (PDF)](/-/media/files/publications/fandd/article/2020/march/zh/trenches.pdf){rel="external" type="application/pdf"} --- _Source: https://www.imf.org/en/publications/fandd/issues/2020/03/interview-with-somalia-finance-minister-abdirahman-dualeh-beileh-trenches_