IMF reaches staff agreement with Somalia, eyes debt forgiveness in late 2023 ...Middle East

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IMF reaches staff agreement with Somalia, eyes debt forgiveness in late 2023
source : Devdiscourse ( Middle East ) () 48
International Monetary Fund staff on Monday reached a staff-level agreement with Somalia that will allow the release of about $10 million to the East African country, once approved by the board, the head of the IMF mission told Reuters. IMF mission chief Laura Jaramillo said the deal came after an in-person review of Somalia's Extended Credit Facility in Nairobi, Kenya. She praised authorities for sticking to economic reforms despite a prolonged drought, the impact of Russia's war in Ukraine and continued security concerns.

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