IMF provides Somalia with $10 million to reduce poverty, boost growth

Foreign Ministry welcomes International Security Council statement about Yemen

The Foreign Ministry welcomed the statement issued by the International Security Council about Yemen in which the Council affirmed its support for the efforts of the UN Special Envoy to Yemen.

Massive 7.0 Magnitude Earthquake Strikes Alaska, USA

A powerful 7.0 magnitude earthquake struck Alaska, USA, yesterday evening, according to the United States Geological Survey (USGS).

Korean autos exports rise 13.7 percent in November

South Korea's autos exports rose by 13.7 percent year-on-year in November, thanks to a notable increase in shipments of eco-friendly and hybrid models.

Barcelona Consolidates Lead in Spanish La Liga with Win Over Villarreal

Barcelona strengthened its position at the top of the Spanish La Liga table after defeating host Villarreal 2-0 in the 17th round of the competition.

Last Update: ، 2025/12/24 Time 04:04:44
Latest News:

President al-Alimi praises UN Security Council statement, affirms commitment to protect state legal ..

Press release of the International Security Council

President al-Alimi meets with Consultations and Reconciliation Commission headship

President al-Alimi sets out guidelines for Yemeni diplomatic missions discourse

Yemeni Ministries Reaffirm Constitutional Loyalty Amid STC Secessionist Declarations

IMF provides Somalia with $10 million to reduce poverty, boost growth

[11/12/2024 01:42]

WASHINGTON-SABA
The International Monetary Fund (IMF) has approved the disbursement of $10 million to Somalia to boost the country's economic reforms.

The IMF said in a statement that the latest funding "brings Somalia's total disbursement under the current program, the Extended Credit Facility, originally approved in December 2023 to $60 million.

The IMF added that its Executive Board "has completed the 2024 Article IV consultation and the second review under the Extended Credit Facility for Somalia."

The IMF expects Somalia's real GDP growth to rise to 4 percent for 2024 and 2025 on the basis of strong exports and remittances "amid high risks, including regional and domestic security developments, commodity prices and climate shocks."