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FinancialNews


  • 28-03-20

    Somalia: IMF offers USD395.5 million credit facility to finance various reforms

    (MENAFN) The International Monetary Fund (IMF) approved USD395.5 million credit facility to finance different reforms in Somalia, as said by IMF.


    According to IMF, the three-year financing package will help the execution of the authorities' National Development Plan and anchor reforms among the severely indebted poor countries (HIPC) Decision and Completion Points.


    Somalia has stood at the HIPC Decision Point given the authorities' continued commitment to repairing in a challenging political, security and climate environment, as said by Kristalina Georgieva, IMF managing director.


    Georgieva said that, "the authorities' strong policy commitment has helped strengthen public financial management and the financial sector, improve governance, and enhance macroeconomic stability".

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