5th Stage of The IMF Extended Credit Facility For Somalia Completed, Enabling Immediate Disbursement of $10 Million Dollars!

[MenacingGeeljire]

IMF Executive Board Concludes Fifth Review of the Extended Credit Facility for Somalia

Somalia’s ECF arrangement was originally approved by the Executive Board on March 25, 2020 (see Press Release No. 20/105) as part of a three-year blended arrangement under the ECF and the EFF, which involved access of SDR 252.86 million (155 percent of quota) under the ECF and SDR 39.57 million...

www.imf.org

 

[MenacingGeeljire]

Minister of Finance

 

[MenacingGeeljire]

The debt relief program was on the brink of falling apart before the election of HSM but now thanks to reforms and hard work, the debt relief program is in the final stage and is likely to be completed by the 4th quarter of 2023!

 

[MenacingGeeljire]

This is major for Somalia and a good progress towards debt relief which is expected to be completed later this year. After weeks of fake news this is what the IMF had to say:

• Despite significant challenges, including from the continued severe food crisis, Somalia has maintained strong reform momentum and program performance has been satisfactory.
• 
  The authorities’ steady progress under the Heavily Indebted Poor Countries (HIPC) process is important to lay the ground for achieving the Completion Point in late 2023. Continued support from international partners is imperative to support the authorities’ policy efforts.

HSM continues to overcome PL’s childish obstruction to Somalia’s progress and state building.

@Rationale, it seems you and Biden weren’t wrong after all

 

[MenacingGeeljire]

 

[repo]

You keep that 10 million, it's on the house. But there won't be any loans.

 

[MenacingGeeljire]

You keep that 10 million, it's on the house. But there won't be any loans.

How does it feel after Puntland’s Isbaaro failed? Debt relief will be completed this year with or without you.

 

[FBIsomalia]

How does it feel after Puntland’s Isbaaro failed? Debt relief will be completed this year with or without you.

Puntland cut ties almost one year, no one from puntland care what his happening in south, and still we hear calacaal from your side, puntland this puntland that

Puntland Boogeyman .

 

[Rationale]

This is major for Somalia and a good progress towards debt relief which is expected to be completed later this year. After weeks of fake news this is what the IMF had to say:


HSM continues to overcome PL’s childish obstruction to Somalia’s progress and state building.

View attachment 274012

@Rationale, it seems you and Biden weren’t wrong after all

Do you need what is the beautiful part it is PL that needs the aid the most.

Things willl get more heated in PL as this continues.

 

[Manzana]

Do you need what is the beautiful part it is PL that needs the aid the most.

 

[FBIsomalia]

Puntland phobia .

 

[MenacingGeeljire]

Do you need what is the beautiful part it is PL that needs the aid the most.

Things willl get more heated in PL as this continues.

Of course. It seems PL and Deni bite the dust all over again. Some people on here were talking about how Somalia was being sanctioned and the debt relief program came to halt but the completion of the 5th stage and the start of the final stage which is expected to be completed later this year, throws their lies out of the window.