Foroyaa received a statement from the ministry of finance indicating the signing of loan agreements with the Islamic Development Bank and the International Trade Finance Corporation, but the statement did not make any mention of its submission to the National Assembly for ratification.
Section 79 of the Constitution gives the executive power to sign agreements to the executive and the power of ratification of agreements to the National Assembly. The mere signing of an agreement by the executive is not enough. It does not lead to its implementation without ratification by the National Assembly. The press statement therefore needs to be read with a grain of salt knowing full well that it must lead to implementation. We therefore hope that once ratified implementation will commence.
