Somalia’s much-delayed polls have placed hurdles on the country’s path to achieving total debt relief under an initiative by the International Monetary Fund.
According to IMF, the political uncertainty, election delays, security and environmental shocks have added to the pain to the ongoing process of terminating Somalia’s IMF-supported programme for short-term financing, as well as derailing the achievement of full debt relief under the Heavily Indebted Poor Countries (HIPC) initiative. This, IMF warned, will make it difficult for the war-torn country to access financial support.
