IMF praises Somali reforms and says debt relief is possible

Somali flag

Somalia’s authorities have agreed an economic reform programme with a staff team from the IMF, including further development of the country’s central bank.

The IMF said on January 27 that the new agreement brought Somalia closer to being able to qualify for its heavily indebted poor countries (HIPC) initiative. In December, the IMF’s managing director, Kristalina Georgieva, said Somalia’s progress in economic reform should allow it to join the HIPC programme. The initiative was launched by the

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