IMF extends financial support for Somalia to August

PUBLISHED: Fri, 20 May 2022 12:57:04 GMT

NAIROBI, May 20 (Reuters) – The International Monetary Fund has extended its support for Somalia under its Extended Credit Facility to Aug. 17, the lender said on Friday.

Early this month, the Somali government had asked the fund for a three-month extension in its financial support.

In February, the IMF warned against the risk of automatic expiry this month of the three-year budget support programme worth nearly $400 million, after delayed legislative and presidential elections jeopardised its renewal. Read full story

(Reporting by Duncan Miriri; Writing by George Obulutsa; Editing by Clarence Fernandez)

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