ON SOMALIA’S DEBT RELIEF AND EXTENSION OF CREDIT

There is close one trillion dollars circulating privately in Somalia’s economy, untouched by corruption because of private management.

Extension of credit and debt relief may help or hurt Somalia. If it is going to be publicly managed, I have deep concerns. But, the point here is someone still sees greener pastures in taking up yet more debt burden for a broken nation.

Debt relief and credit extension aren’t silver bullets to our economic woes – it is the corruption bordering on looting of public resources and systemic mal-administration. It is lack of discipline and fiscal responsibility.


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