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

PM briefs Leadership Council Chairman on preparations for ministerial meeting in New York

Chairman of the Presidential Leadership Council Dr. Rashad al-Alimi, , met today with Prime Minister Dr. Ahmed bin Mubarak, and ministers of Finance Salem bin Braik, Planning and International Cooperation Dr. Waed Badhib, and Civil Service and Insurance Dr. Abdul Nasser Al-Wali to take stock of the progress in preparations for the international ministerial meeting on Yemen to be convened in New York.

The fatalities toll of Israeli barbaric war on Gaza rises to 46,565 martyrs and 109,660 injured

The casualties toll of the Israeli occupation forces' annihilation warfare on Gaza Strip has risen to 46,565 martyrs and 109,660 injured since the seventh of October 2023, the majority of whom are children and women, while thousands of victims are still under the rubble and in the streets, as the occupation prevents ambulance and civil defense crews from reaching them.

German economy shrinks by 0.2 percent

The German economy contracted by 0.2 percent in 2024 compared to 2023.

Real Madrid faces Barcelona in Spanish Super Cup final in Jeddah

Real Madrid will meet its traditional rival Barcelona tomorrow, Sunday, at King Abdullah Sports City Stadium in Jeddah, in the Spanish Super Cup final hosted by the Kingdom of Saudi Arabia.

Last Update: ، 2025/01/17 Time 01:05:19
Latest News:

Al-Eryani meets the Director of ALECSO

Leadership council member al-Zubaidi, US envoy discuss Yemen latest developments

Tariq Saleh, Lenderking discuss situations in Yemen, efforts to counter Houthis' terrorism

PM briefs Leadership Council Chairman on preparations for ministerial meeting in New York

Leadership Council Chairman appreciates pioneering role of Egypt in enhancing regional security and stability ..

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."