Somalia moves closer to debt relief amidst political turmoil, financial reforms

[Deeq A.]

Mogadishu (HOL) - The International Monetary Fund (IMF) has bolstered Somalia's prospects for debt relief with an immediate disbursement of $9.4 million. On May 17, 2023, the IMF Executive Board completed its fifth review under the Extended Credit Facility (ECF) for Somalia, bringing the debt-laden nation one step closer to financial stability.

Source: Hiiraan Online