IMF flags gaps in Somalia’s financial reform efforts
Fund notes progress, but says central bank should go further to safeguard stability
The Central Bank of Somalia is making steady progress in strengthening financial supervision and inclusion, but still needs to make efforts to safeguard financial stability, enhance oversight of the payments system and improve financial infrastructure, the International Monetary Fund has said.
In an end-of-mission press release following Somalia’s Article IV consultation, published on October 5, Ran Bi, who led the IMF team, noted that the country had continued to advance important reforms and
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