LOC16:26
13:26 GMT
(With photos) KUWAIT, Jan 13 (KUNA) -- Somali Minister of Finance Mohammad Ali Hamid on Tuesday underlined the necessity for Kuwait's economic summit due to "perilous" impacts of the global economic crisis on Arab countries.
Describing the economic situation in Somalia as "collapsing", Minister Hamid told KUNA that everybody was hoping for the summit to come out with positive results that are of benefit to Arab countries impacted by the crisis. The Somali minister had arrived here earlier today to participate in meetings of the Economic, Developmental and Social Summit, due here on January 19-20.
"Somalia has no particular proposals for the summit in the time being, yet, we'll have a say when the meeting of Arab finance ministers takes place," Hamid noted.
On the situation in Somalia, the minister said "conditions had improved," expressing hope that they would witness more improvement as Somalia heads to national reconciliation.
Concluding his statement, Hamid congratulated Kuwait for the formation of the new cabinet and wished all the best for the country. (end) amf.no.hb KUNA 131626 Jan 09NNNN