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africanews - 1 month ago

Somalia not only rebuilding but thriving

After years of civil war and battling Al Shabaab militants Somalia seems to be putting itself back together. According to the African Union Mission In Somalia (AMISOM) the East African nation has a thriving real estate, with people developing the capital Mogadishu. A modern mosque set in a thriving neighbourhood in #Mogadishu town. The real estate sector is thriving, – a vivid testimony of growth, recovery and development. #SomaliaGains2019 #SomG19 pic.twitter.com/JMM9ZxpzWj— AMISOM (@amisomsomalia) December 14, 2019 A view of #Mogadishu town – the construction industry is thriving in the city as demand for properties for both business and accommodation is in high demand. #SomaliaGains2019 #SomG19 pic.twitter.com/ikrPhUZELS— AMISOM (@amisomsomalia) December 11, 2019 A busy shopping mall in #Hamarwayne district, #Mogadishu. Commercial activity and retail business are thriving in #Somalia, the country is on its way to economic recovery. #SomaliaGains2019 #SomG19 pic.twitter.com/gm0wCgLb4I— AMISOM (@amisomsomalia) December 12, 2019 With the improving security situation, social life is thriving in Somalia Residents of Mogadishu enjoying the weekend at Lido beach. With the improving security situation, social life is thriving in #Somalia. The country’s beautiful beaches providing the perfect relaxation. #SomaliaGains2019 #SomG19 pic.twitter.com/D0nD6WYh03— AMISOM (@amisomsomalia) December 13, 2019 The road infrastructure is also improving in the country especially in the capital. The United Nations Office for Project Services has even launched US$ 9 million to expand municipal infrastructure. So far, the project has successfully delivered 4.9 kilometers of road in Garowe and 7.5 kilometers of road on Mogadishu, increasing access and economic activity in these regions according to a statement by UN Assistance Mission in Somalia? The International Monetary Fund has also just announced its commitment to help Somalia access some debt relief and secure financial resources, a huge step towards rebuilding the East African nation. The latest IMF analysis of Somalia notes that the country is in “debt distress,” with its $4.7 billion in external debt equivalent to its entire GDP, and no way to repay any of it; 96 percent of Somalia’s debt is already in arrears, meaning even if it never borrows another dime, its debt burden will continue to grow, says Foreign Policy But the IMF is helping the country to clear its arrears and is talking to countries owed by Somalia to forgive the debts. Somalia’s debt relief is a priority for the IMF Management. The IMF is working closely with #Somalia and donors to advance towards debt relief. pic.twitter.com/QqpX4jmGvA— Gerry Rice (@IMFSpokesperson) December 12, 2019


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