IMF reaches staff-level deal with Somalia
MOGADISHU, March 21 (Xinhua) -- The International Monetary Fund (IMF) said it has reached a staff-level agreement with Somalia on the fifth review under the extended credit facility (ECF) arrangement.
The IMF said in a statement released Monday that the agreement will allow the lender to release some funds to Somalia once approved by the IMF board.
IMF mission chief Laura Jaramillo said despite significant challenges, including from the continued severe food crisis, Somalia has maintained strong reform momentum and program performance has been satisfactory.
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