President Hassan Sheikh Mohamud expressed confidence in his government’s commitment to achieving the cancellation of Somalia’s debt and the lifting of the long-standing arms embargo.
The President’s remarks came following his return from Tanzania, where Somalia was officially admitted to the East African Community (EAC), a development expected to bring numerous benefits to the nation.
President Mohamud emphasized that his administration had taken steps toward stabilizing the country and kickstarting the economy. He urged parliament to swiftly pass the necessary legislation to pave the way for the lifting of the arms embargo.
The President assured lawmakers that once Somalia’s parliament approved the required laws, the debt would be forgiven, and the arms embargo would be lifted.
Reliable sources have indicated that the United Nations Security Council is highly likely to lift the arms embargo, which has been in place for three decades, in December. This decision would enable Somalia to procure a diverse range of weapons from different countries, empowering the nation to bolster its security measures.
Addressing the issue of security, President Mohamud expressed confidence that the last African Union soldier would exit Somalia by December of the following year, aligning with the directives of the United Nations Security Council. He pledged that his administration would intensify efforts in the ongoing fight against the extremist group Al-Shabaab, reaffirming Somalia’s commitment to eradicating terrorism from its soil.
The President highlighted the multitude of opportunities that Somalia’s entry into the East African Community would bring, particularly for the business community.
He underscored that Somali traders would now have unrestricted access to all eight member countries of the EAC, opening up new avenues for economic growth and regional cooperation.
In terms of the economy, President Mohamud shared promising news, revealing that domestic revenue collection had surged by an impressive 25% in the past four months. He attributed this positive development to the collaborative efforts between the government and the business community, as well as the crackdown on Al-Shabaab’s extortion activities.
