WASHINGTON, D.C. — Somalia’s Minister of Finance, Bihi Iman Egeh, has traveled to Washington, D.C. to attend the Spring Meetings of the World Bank and the International Monetary Fund (IMF), where he held high-level discussions with international financial partners on economic reforms and private sector investment .
World Bank Talks Focus on Global Challenges
During his visit, Minister Egeh held a productive meeting with Ndiame Diop, the World Bank’s Vice President for Eastern and Southern Africa, to discuss crucial issues concerning Somalia’s economy . The discussions focused on the economic impact of global challenges, including security concerns, shifting geopolitical dynamics, and the effects of climate change, all of which continue to directly influence Somalia’s economic outlook .
Both sides reviewed Somalia’s ongoing reform agenda, particularly efforts to strengthen domestic revenue mobilization, enhance public financial management systems, and stimulate economic growth to achieve sustainable development . Minister Egeh highlighted the Federal Government’s commitment to advancing fiscal reforms and building resilient economic institutions, while emphasizing the importance of continued support from international partners .
Engagement with International Finance Corporation
On the sidelines of the Spring Meetings, the Minister also held discussions with the International Finance Corporation (IFC) Regional Vice President for Africa to advance private sector investment and Somalia’s economic reform agenda . Talks centered on supporting private sector investment and building a pipeline of projects to drive growth and job creation .
In a separate engagement in January 2026, Minister Egeh held constructive discussions with the IFC’s Regional Director for East Africa, Mary Porter Peschka, in Mogadishu. Their conversation centered on enhancing IFC involvement in the country’s financial ecosystem, exploring mechanisms for promoting private sector-driven development and progressing Somalia’s broader investment initiatives, ensuring alignment with national fiscal goals .
IMF Discussions on Reform Progress
The Minister also met with Mohamed Maait of the International Monetary Fund to review progress on Somalia’s economic reform program and discuss global economic challenges . The IMF remains a key partner in Somalia’s reform efforts, supporting the country’s journey toward financial stability and sustainable growth .
Ongoing Reform Initiatives
The engagement underscores Somalia’s proactive participation in global financial platforms and its determination to address economic challenges through strategic partnerships and policy reforms .
In February 2026, Minister Egeh held high-level discussions with the World Bank’s Somalia Country team, headed by Country Manager Hideki Matsunaga, in Mogadishu. The strategic gathering centered on comprehensively assessing the World Bank portfolio active within the nation, ensuring that ongoing development and institutional projects align closely with the federal government’s economic priorities .
A primary focus of that meeting was identifying immediate financial and strategic response measures to tackle the persistent drought conditions impacting vulnerable communities across the country. Officials explored mechanisms to rapidly mobilize climate financing and emergency response funds to mitigate the humanitarian impact without derailing the country’s broader fiscal progress .
Post-Debt Relief Economic Agenda
Following Somalia’s historic completion of the debt relief process, the Ministry of Finance has actively engaged with international financial institutions to transition from emergency aid dependency to sustainable, long-term economic growth .
These latest discussions with the World Bank and IMF build upon the government’s wider economic agenda — including the National Transformation Plan (NTP 2025-2029) — which seeks to strengthen institutional resilience, enhance public service delivery, and protect the economy from recurrent climate shocks .
Minister Egeh and Vice President Diop emphasized the wide-ranging challenges that ongoing global security, geopolitical, and climate-related shocks continue to pose for growth, stability, and household welfare across the country . They expressed commitment to continuing engagement that supports Somalia’s recovery and development objectives .
The Spring Meetings engagement highlights Somalia’s active involvement in global financial forums and its resolve to tackle economic challenges through strategic alliances and policy adjustments. The Finance Ministry described the meetings as a key step toward reinforcing partnerships and advancing reform priorities aimed at strengthening Somalia’s resilience and supporting inclusive economic progress .
