Somalia inches closer to full debt relief in IMF review
People walking in in the Hamarweyne market of Mogadishu, Somalia. The country has been going through an economic performance examination by IMF for several years. PHOTO | JP LOPEZ | AFP
The Executive Board of the International Monetary Fund (IMF) has completed a crucial review that could lead to full debt relief, allowing Mogadishu back into eligibility to borrow for development projects.
It is the latest step of several over the past five years, in which Somalia has to go through economic performance examination by IMF, generally referred as IMF Staff Monitoring Performance (SMP).
