Economy

IMF extends financial support for Somalia

Date: May 23, 2022

The International Monetary Fund (IMF) has extended its support for Somalia under its Extended Credit Facility to August 17, the lender said.

Early this month, the Somali government had asked the fund for a three-month extension in its financial support.

In February, the IMF warned against the risk of automatic expiry this month of the three-year budget support programme worth nearly $400 million.

This, after delayed legislative and presidential elections jeopardised its renewal

 

--CNBCAfrica--

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