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Last Update: ،
2025/10/15
Time
11:17:04
Latest News:
Leadership Council Chairman al-Alimi Emphasizes Restoration of Institutions and Relief Efforts
Vice Foreign Minister meets Sudanese Deputy Foreign Minister
Mostafa discusses with Somali Minister of State developments in African Horn, Red Sea
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Latest News:
Leadership Council Chairman al-Alimi Emphasizes Restoration of Institutions and Relief Efforts
Vice Foreign Minister meets Sudanese Deputy Foreign Minister
Mostafa discusses with Somali Minister of State developments in African Horn, Red Sea
Yemen Participates in 61st Meeting of GCC Standardization Organization's Technical Council in Kuwait ..
Maj. General Al-Sulwi, Interpol Chief Discuss Promoting Cooperation
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."
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."
Key words:
International - consultation - developments - disbursement - remittances - WASHINGTON - originally - including - completed - Executive -
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