• 18-DEC-2019

  • Washington, DC

IMF Somalia Debt Relief

Somalia has won international support to help it advance in the process of debt relief, the head of the IMF announced Wednesday (Dec. 18) in Washington.

“We have very good news from the IMF executive board today. A decision on a financing plan to mobilize resources for the Fund's share of debt relief for Somalia,” said Managing Director Kristalina Georgieva after exiting the session.

Georgieva on Wednesday described debt relief for Somalia in a press release as a priority for the IMF.

“This is a global effort, mobilizing countries rich and poor, big and small to achieve a very important objective: clearing the debt of a country that for the last 30 years has experienced the tragedy of war and destruction,” she said.

“But today, because of the will of its people and its government is turning a page, reforming its economy, bringing its society together,” she added.

For the full statement and more on the economy of Somalia and its relations with the IMF: https://www.imf.org/en/Countries/SOM