Cover IMF Staff Country Reports
Somalia: Second and Third Reviews Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criterion, Modification of Performance Criteria, Interim Assistance and Rephasing of Access and Extension of the Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Somalia
Author:
International Monetary Fund. Middle East and Central Asia Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2022: Issue 228
Language:
English
Publication Date:
19 Jul 2022
DOI:
https://doi.org/10.5089/9798400216343.002
ISBN:
9798400216343
ISSN:
1934-7685
Pages:
108
Keywords:
Somali authorities; ECF arrangement; net SDR position; General government operation; General SDR allocation; Debt relief; Budget planning and preparation; Global
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Notwithstanding multiple shocks—including COVID-19, drought, and surge in commodity prices—the Somali authorities have preserved macroeconomic stability and maintained the reform momentum, supported by use of the SDR allocation and cash balances. After some considerable delay, Parliamentary and Presidential elections were successfully completed, and President Mohamud was sworn in on May 15, 2022. The authorities have affirmed their commitment to the objectives and policies underpinning the program supported by the Extended Credit Facility and the HIPC process.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2022: Issue 228