Somalia: First Review Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia

November 30, 2020

Preview Citation

Format: Chicago

Somalia: First Review Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia, (USA: International Monetary Fund, 2020) accessed November 21, 2024

Summary

Soon after reaching the HIPC Decision Point and embarking on a new IMFsupported program aimed at supporting the implementation of the authorities’ National Development Plan and lifting growth, Somalia was hit by a triple shock of flooding, desert locusts, and, importantly, the coronavirus pandemic. Prompt action by the authorities and support from the international community has helped mitigate the impact on peoples’ lives and livelihoods, however, these shocks have had a significant impact on economic activity, exports, and domestic fiscal revenues.

Subject: Asset and liability management, External debt, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration

Keywords: Budget planning and preparation, Debt relief, ECF arrangement, ECF-supported program, Executive board discussion, Global, Implementation of the Extended Credit Facility, Somali authorities

Publication Details

Pages:

88
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2020/310
Stock No:

1SOMEA2020005
ISBN:

9781513562612
ISSN:

1934-7685

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