Somalia progressing toward debt forgiveness, IMF reports

[Deeq A.]

Mogadishu (HOL) - The International Monetary Fund (IMF) has announced that Somali authorities have reached a staff-level agreement for the fifth review of Somalia's Extended Credit Facility (ECF) arrangement. Led by Laura Jaramillo, the IMF team stated in a press release that Somalia still faces acute food insecurity in some areas due to persistent drought. Despite this, Somalia has made progress under the ECF-supported program and towards the HIPC Completion Point triggers, which appears achievable by the end of 2023.

Source: Hiiraan Online