IMF Staff Country Reports

Somalia: Staff Report for the First Review Under the Extended Credit Facility Arrangement, and Requests for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Somalia

Publication Date:

June 10, 2024

Electronic Access:

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Summary:

Economic activity has picked up in recent months, supported by a rebound in agriculture, though still affected by the lingering effects of two years of drought and recent severe flooding. The security situation remains challenging, with the government scaling up its military actions against the Al-Shabab terrorist group, amid the planned withdrawal of the African Union Transition Mission in Somalia (ATMIS) by end-December 2024. Despite these significant challenges, the authorities remain committed to the reform effort, leveraging the benefits of the HIPC Completion Point achieved in December 2023.

Series:

Country Report No. 2024/158

Subject:

Asset and liability management Debt Relief Debt service External debt International organization Monetary policy Public debt Revenue administration

Frequency:

regular