RCRF II PROJECT PROGRESS REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED JUNE 30th, 2018

THE FEDERAL GOVERNMENT OF SOMALIA

MINISTRY OF FINANCE 
 
RECURRENT COST AND REFORM FINANCING PROJECT, PHASE II  
 
RCRF II PROJECT PROGRESS REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED JUNE 30th, 2018

This document presents the Environmental and Social Management Framework (ESMF) for Additional Financing of Recurrent Cost and Reform Finance (RCRF II). The ESMF ensures that the project activities are compliant with the relevant requirements of national policies, regulations and legislations as well as the World Bank Safeguards Policies and Procedures. The objective of this ESMF is to set out the principles, rules, guidelines and procedure to assess the environmental and social impacts and monitoring to ensure that environment and social aspects are duly considered.  
 

FEDERAL GOVERNMENT OF SOMALIA 
 
MINISTRY OF HEALTH  
 
 
SECOND RECURRENT COST AND REFORM FINANCE (RCRF II)  ADDITIONAL FINANCING 

ENVIRONMENTAL AND SOCIAL MANAGEMENT FRAMEWORK (ESM

Inter-Governmental Finance Ministers Forum (IFMF) organized by the FGS Ministry of Finance held in Mogadishu from 21st to 22nd July 2018 to discuss mainly strengthening the Intergovernmental fiscal relationship between the Federal Government, the Federal Member States and the Banadir Regional Authority with the mutual respect and close cooperation. The forum is also to discuss and find a possible way of unifying the country’s Financial Institutions/system which eventually the forum endorsed the recommendations of the technical committee on the harmonization of the country's tax system.

Management Response to the Auditor General`s on The FGS Accounts for the financial year ended 2018

FEDERAL REPUBLIC OF SOMALIA
MINISTRY OF FINANCE
DEBT MANAGEMENT UNIT 

Somalia - Preliminary Estimates External Debt by Creditor, End-2013 to End-October 2016

Somalia’s protracted statelessness has resulted in the country defaulting on its external payment obligations, thereby accumulating external payment arrears.

As a result, Somalia is starved of new financing that is required to finance its development budget and relies only on grants to supplement limited domestic revenues;

Clearing Somalia’s arrears and securing comprehensive debt relief are critical in regaining access to concessional financing from both multilateral and bilateral development agencies.

SOMALIA - PPG EXTERNAL DEBT AS OF END- DECEMBER 2018

Total Public and Publicly Guaranteed Debt Total Public and Publicly Guaranteed Debt Multilateral Creditors (MC) 

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Background and Structure of Somalia’s External Debt Somalia is a country emerging from devastations caused by a prolonged twenty- plus years of civil war that shattered the nation’s people, economy, institutional systems, and infrastructure. It is now slowly recovering as progress is being made in rebuilding the economy and important institutions to transition Somalia from fragility and to stability.