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International Monetary Fund (IMF) Reaches Staff-Level Agreement with Somalia on a 36-Month Extended Credit Facility Arrangement

International Monetary Fund (IMF) Reaches Staff-Level Agreement with Somalia on a 36-Month Extended Credit Facility Arrangement
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IMF agrees to 100-mln-USD loan for Somalia

IMF agrees to 100-mln-USD loan for Somalia
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MIL-OSI Africa: International Monetary Fund (IMF) Reaches Staff-Level Agreement with Somalia on a 36-Month Extended Credit Facility Arrangement

MIL-OSI Africa: International Monetary Fund (IMF) Reaches Staff-Level Agreement with Somalia on a 36-Month Extended Credit Facility Arrangement
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Somalia, IMF reach preliminary deal on $100 million in new funding

Somalia, IMF reach preliminary deal on $100 million in new funding
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Somalia, IMF Reach Preliminary Deal on $100 Mln in New Funding

International Monetary Fund (IMF) staff on Wednesday reached a preliminary agreement with Somalia that will allow for the release of $100 million in funding under a new 36-month credit program, the fund said. The so-called staff-level agreement under the Extended Credit Facility (ECF) is subject to approval from the fund's board. It is to help Somalia's economic institutions put together policies for when it reaches the point it can achieve debt relief under the fund's Heavily Indebted Poor Countries Completion scheme, aimed for December.

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