Somali economic advisors warn of downturn, instability as electoral standoff persists


MOGADISHU (HOL) – A team of local and foreign economic advisors appointed by the Federal Government in 2018 has called for the urgent resolution of the ongoing political stalemate warning continued gridlock risks wiping out all economic gains and further destabilising the country.

The eight National Economic Advisors (NEA) who make up the National Economic Council together with the President, PM and Federal Member State presidents said in a joint statement the country was at a precipice and called on the leaders to set aside their differences.

“The current political crisis engulfing Somalia does not only affect the functions of the NEC,
but it could also represent the most severe threat to the integrity of our nation in a
generation,” the statement read in part. “The limited socio-economic progress that has been attained painfully and slowly in the past few years will be reversed.”

The remarks come amidst long-running differences between President Mohamed Farmaajo and the opposition which have seen elections deferred indefinitely. Farmaajo is today meeting the FMS leaders in Mogadishu for the second round of preliminary talks.

The NEA warned that unless a deal is reached to pave way for democratic elections, Somalia risked plunging into another difficult situation as witnessed in the early 1990s.

“The NEA are concerned that continued political instability will simply replace the previous
dysfunctional unitary system with a completely nonfunctional federal one.”

The NEA comprises of four Somalis and four international economic expers tapped by the Federal Government in 2018 to advise on economic matters.