IMF Lack Of Confidence In Somalia Index

[DR OSMAN]

List of African countries to receive from the IMF’s $1 billion fund​

POSTED BY: IDIL NEWS STAFF NOVEMBER 5, 2023
To strengthen their dwindling foreign exchange reserves and provide budgetary support, the International Monetary Fund (IMF) has examined the economic, financial, social, and governance policies of about eight African countries over the last month (October).

Seven of the eight countries that were subject to approval by the IMF Executive Board have committed to financing exceeding $1 billion as a result of the evaluations’ completion.

Africa has long been a region grappling with a complex array of challenges, ranging from economic disparities to healthcare inadequacies, infrastructure deficiencies, and political uncertainties.

The financial assistance offered by the IMF holds the promise of bolstering struggling economies, mitigating the impact of global economic shifts, and providing a platform for sustainable development.

Typically, the IMF’s support for Africa is intended to broaden commitment to fostering an environment where African nations can harness their potential, empowering themselves to build resilient, self-sufficient economies and thriving societies.

With that said here is the list of African countries set to receive funding from the IMF, as seen in a report by the East African.

Rank Country Fund…

1. Senegal $276 million
2. Rwanda $262 million
3. Democratic Republic of Congo $200.39 million
4. Tanzania $150 million
5. Somali $100 million
6. Gambia $10.9 million
7. Comoros $4.7 million

 

[DR OSMAN]

The IMF don't hand out nation building loans if u don't meet their key metrics of 'social, governance, economic, infrastructure, political' bench marks. It's as simple as that. No-one has confident in a nation where you sign something and then another leader un-does it, no stability.

They have no confidence in a govt that doesn't hold the 'course' in a direction or starts to flip flop. If they start to see even small 'flip flop' they 'red flag' ur nation, they don't sit there waiting for 'disaster' their examining it before it emerges.

Your social policies(health, education), infrastructure plan(roads, ports, airport, energy, communication, food security, water) are then seen if it's actually 'viable' and 'rational' and will produce a 'net effect' for market development, if it doesn't, your 'axed' also lol.

Finally your 'governance' and it's process from top to down and each stage is checked to ensure no corruption or POTENTIAL even. If ur governance shows one 'risk' even if it hasn't been done, your 'red flagged' also. Your 'rule of law' and it's actual 'outcomes' not 'empty words' are seen.

Laws making and subsequent institutions are analyzed also on it's effectiveness not your leaders word lol. They use 'ficil' to examine-conclude as that what 'rationality' is about, so i laugh when i see somali try resorting to 'words' whether leaders or social or online. U can scream all day n night online u want 'ficilka' ayay ku maqan yihin not 'hadalka'. Just like god judges us on 'ficil' that's where I suspect they 'copied' from and applied to all LIFE, ending the era of 'cantarabaqash' sheeko sheeko lakin no 'ficil'

 

[Macawisley]

List of African countries to receive from the IMF’s $1 billion fund​

POSTED BY: IDIL NEWS STAFF NOVEMBER 5, 2023
To strengthen their dwindling foreign exchange reserves and provide budgetary support, the International Monetary Fund (IMF) has examined the economic, financial, social, and governance policies of about eight African countries over the last month (October).

Seven of the eight countries that were subject to approval by the IMF Executive Board have committed to financing exceeding $1 billion as a result of the evaluations’ completion.

Africa has long been a region grappling with a complex array of challenges, ranging from economic disparities to healthcare inadequacies, infrastructure deficiencies, and political uncertainties.

The financial assistance offered by the IMF holds the promise of bolstering struggling economies, mitigating the impact of global economic shifts, and providing a platform for sustainable development.

Typically, the IMF’s support for Africa is intended to broaden commitment to fostering an environment where African nations can harness their potential, empowering themselves to build resilient, self-sufficient economies and thriving societies.

With that said here is the list of African countries set to receive funding from the IMF, as seen in a report by the East African.

Rank Country Fund…

1. Senegal $276 million
2. Rwanda $262 million
3. Democratic Republic of Congo $200.39 million
4. Tanzania $150 million
5. Somali $100 million
6. Gambia $10.9 million
7. Comoros $4.7 million

Somalia, IMF reach preliminary deal on $100 mln in new funding​

November 2, 20234:16 AM GMT+13Updated 5 days ago

The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS

NAIROBI, Nov 1 (Reuters) - 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 programme, 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.

"However, despite the progress achieved, Somalia faces significant challenges ahead, including those stemming from economic, social, security, and climate risks," Laura Jaramillo, who headed a team that conducted a review on Somalia, said in a statement.

"Growth is currently insufficient to reduce widespread poverty, address large social needs, and create sufficient jobs for the youth. Somalia is highly vulnerable to climate shocks that hurt growth and hinder poverty reduction efforts."


Somalia's government has been fighting the al Qaeda-linked al Shabaab group since 2006. The group, which aims to overthrow the government, has been carrying out frequent gun and bomb attacks that also target peacekeeping troops supporting the government.

The country has also over the years experienced bouts of drought and floods that have led to thousands being displaced.

Source: https://www.reuters.com/world/afric...liminary-deal-100-mln-new-funding-2023-11-01/