Somalia
07.08.2025 - 17:59:45Somalia: Staff Report for the Sixth Review Under the Extended Credit Facility Arrangement and Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia
WASHINGTON, 20 December 2023 / PRN Africa / -- Summary:Economic activity is recovering as rains resumed in 2023, and the authorities continue to advance their efforts to rebuild the economy and institutions. However, despite significant progress achieved, Somalia remains fragile, facing challenges from climate shocks, an unsettled security situation as the government advances against Al-Shabab amid the withdrawal of the African Union Transition Mission, and lack of political consensus among all Federal Member States that affects advancement of the federalism agenda.
SOURCE International Monetary Fund (IMF)
