Soomaaliya Deyn Ma Laga Cafiyey?

Waxaan dhegaystay Cajal kooban ( Clip ) oo Wasiir Beyle (Finance Ministry of SFG) duubay isagoo ku dooday dhowr arimood oo aan ku habboonayn maqaamka wasiir maaliyadeed.

Wasiirku, isaga isleh difaac go’aamadda aan loo meel deyin ee
xukummaddiisu qaadanayso iyaga oo eegaya maslaxadooda siyaasadeed ee dhow
keliya isla markaasna halis gelinaya mustaqbal facaha (next generations) soo
socda, wuxuu ku andacooday dhow arimood oo ah jahwareerin (disinformation)
ummadeed:

1. Wuxuu ku tuhmay shacabka Soomaaliyeed iyo aqoon yahankooda in
aysan fahmi karin qaabka iyo foormulooyinka (formula) loo maray “deyn
cafinta” (haddii ay run tahay!).

Wuxuu sheegay Wasiirku in ay isticmaaleen “Bridge
Financing” isagoo u sawiraya in uu yahay wax aan dadku fahmi karin!!

2. Wuxuu sheegay Wasiirku in waddamada Soomaaliya deynta ku leh
aan sharciyadoodu u ogolayn in ay deynta cafiyaan! Yaab!

3. Wuxuu sheegay in World Bank horay uga cafiyey, bishaan 25-keedana
(25th March 2020) ay IMF ka cafin doonto isagoo ku kajamaya shacabkana wuxuu
yiri “ishii buktooy ku bikaacso!” Hab-dhaqan Wasiir oo yaab leh!

Haddaba su’aashu waxay tahay Somaliya deyn ma laga cafiyey?
Waase maxay “Bridge Financing”?

Jawaabta kooban waxay tahay annagoo cuskanayna isla hadalka
Wasiirka waa “MAYA”. Deyn lama cafin ee waa culeyskii hore oo mid
laguu daray “reeryo reeryo kale la dulsaaray!

Caddayn:

Wasiirku wuxuu yiri waxaan isticmaalnay “Bridge Financing”. Waa maxay “Bridge Financing”?

Haddii af-Soomaali lagu soo koobo waa “Deyn deyn kale ku gud” oo weliba uu sii dheer tahay dulsaar Ribo dheeri ah oo aad u badan sida 20% interest.

Qaab kee u shaqeeyaa “Bridge Financing”?

Marka shirkad (Dawlad) ay u baahan tahay maal gelin deg deg ah
(short term financial obligation for working capital), isla markaasna ay
filayso in ay hesho lacag maalgelin ah oo muddadeedu dheer tahay (secure long
term investment/loan), laakiin aan hadda la heli karin laakiin la hubo
(approved) in la heli doono muddo dhow ka dib (e.g. 1 sano, 6 bilood ka dib),
waxay qaadataa deyn ay kusii buuxiso mudda ay lacagta sugeyso (bridging the
gap).

 Deynta noocaan ah waxaa
la yiraahdaa “Bridge Loan”, waxaana lagu qaataa Ribo dulsaarkeedu aad
ku badan yahay sida 20% interest – maxaa yeelay muddada ayaa yar. Maalgelinta
noocaan ahna waxaa la yiraahdaa “Bridge Financing”.

“Bridge Financing” waa ilaa 3 nooc “Bridge
Loan” oo aynu kor ku sharaxnay. Nooca labaad waa “Bridge Equity
Financing” oo ah in jihadda lacagta bixisay la siiyo saamiyo iyagu ay
awood u leeyihiin in jaangooyaan qiimaha saamiga. Waxaa ka faa’iidaysta
“Venture Capital Firms” marka ay u arkaan in qolada deynta rabta
Business koodu faa’iidayo. Nooca saddexaad waa “Bridge IPO financing”
oo ku dhow kan dambe. IPO (Initial Price Offering) oo ah marka shirkad ay
furayso saamiyo hor leh.

Gebogebo:

Waxaa muuqata in Wasaaradda Maaliyadda iyo Xukuumadda hadda
haysa SFG aysan si buuxda ugu beer xaarnayn shacabka. In loolanka siyaasadeed
ay ku jirto xukuymaddu ku marin habaabinayso Shacabka wax ugu yeertay
“Deyn Cafin!” maqaarsaar ah, laakiin deyn hor lagu gelinayo.

Waxaa muuqata:

1. In Soomaliya aan deyn laga cafin ee qolooyin (Dawladdo,
Shirkado Caalamiya) oo aan la faafin ay ka bixinaynaan deymaha hadda taagan
iyagoo ku bixinaya dulsaar Ribo ah oo aad u badan.

2. In Soomaaliya qaadanayso deyn hor leh oo ka badan tii hore si
qolooyinkaan ay u siiyaan deyntooda dhow (short term loan with high interest).

Tusaale: waxaa la inaka bixiyey $100M + 20% interest (muddada
bixinta 1 sano ama 6 bilood) = $120M. Waxaynu qaadanay $150M + 5% interest
(mudda bixinta 20 sano. Waxaan iska bixinay $120M deynta ahayd. Waxaa
xukuumadda hadda jirta u haray $30M. Doorashaa lagu galay (tusaale ahaan).

Faca soo socda (next generation) waxay ay la il darnaan doonaan bixinta deynta iyo dulsaarka ribada (cummulative/compound interest) dul fuuli doonta muddaa dheer.

W/Q: Dr. Maxamuud Cabdiraxmaan

AFEFF: Aragtidan waxay u gaar tahay Qoraaga ku saxiixan Maqaalka

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