Somalia: Staff -Monitored Program-Press Release; and Staff Report

May 27, 2016

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Somalia: Staff -Monitored Program-Press Release; and Staff Report, (USA: International Monetary Fund, 2016) accessed December 26, 2024

Summary

This paper discusses key issues related to the economy of Somalia. Since 2012, Somalia has been recovering slowly from nearly 25 years of civil war. Weak institutional capacity, complex clan politics, and a challenging security situation have complicated economic reconstruction. As a result, social and economic conditions remain dire. To help Somalia’s economic reconstruction efforts and establish a policy implementation track record as an important step toward an eventual fund arrangement, the authorities have requested an IMF staff-monitored program. It focuses on strengthening macroeconomic policy management and reforms to strengthen economic governance and institutional capacity and keep up the pace of restoring key economic and financial institutions.

Subject: Budget planning and preparation, Currencies, Currency reform, Money, Public debt, Public financial management (PFM)

Keywords: Budget planning and preparation, CR, Currencies, Currency reform, Development partner, Global, Government, IMF SMP, IMF SMP., ISCR, Managing director of the International Monetary Fund, Middle East, Somali authorities, Staff-Monitored Program, U.S. dollar

Publication Details

Pages:

49
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/136
Stock No:

1SOMEA2016001
ISBN:

9781484368770
ISSN:

1934-7685

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