By Younis Ahmed, staff writer
Mogadishu, Somalia (Somalistandard) – The Somali government is expected to announc that it will freeze the bonuses of all public servants due to the financial constraints that the country is currently facing.
The decision is to be made following a meeting between the country’s finance minister, and top officials from the International Monetary Fund (IMF) and the World Bank, according to sources.
The move is expected to save the government millions of dollars that can be redirected towards essential services such as health, education, paying newly hired public school teachers and infrastructure development.
“Given the challenging economic situation that Somalia is currently facing, we have decided to take tough measures to ensure that our resources are used effectively and efficiently,” said a Somali official on condition of anonymity.
The decision to freeze bonuses is likely to be met with mixed reactions from public servants who have been grappling with rising inflation and economic uncertainty.
The IMF and World Bank have reportedly welcomed the government’s decision, saying that it is a positive step towards addressing the country’s economic challenges.
The move comes as the Somali government is seeking to implement a series of economic reforms aimed at boosting economic growth and reducing poverty in the country.
However, many analysts have warned that the government’s ability to implement these reforms may be limited due to ongoing security challenges posed by militant groups such as Al-Shabaab.
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