Somalia: Fifth Review Under the Extended Credit Facility Arrangement, Requests for Waiver of Nonobservance of a Performance Criterion, Modification of Performance Criteria and Indicative Target, and Interim Assistance-Press Release; and Staff Report

Author: International Monetary Fund. Middle East and Central Asia Dept.

Volume/Issue: Volume 2023 Issue 187

Publication date: May 2023

ISBN: 9798400242908

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Topics covered in this book

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Exports and Imports , Money and Monetary Policy , Public Finance , Taxation - General , International - Economics , IMF CD support , General government operation , IMF staff estimate , ECF arrangement , policy slippage , Debt relief , Debt sustainability analysis , Budget planning and preparation , Global

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Summary

Somalia continues to face drought and acute food insecurity in some areas, and the security situation remains tense as the government has stepped up its military advances against Al-Shabab. Despite these significant challenges, the authorities remain committed to the reform effort. Program performance is broadly satisfactory and the HIPC Completion Point (CP) appears achievable by 2023Q4.