Somalia has urged the International Monetary Fund (IMF) to extend the expiration duration of its extended Credit Facility (ECF) as the program is to lapse on 17th May this 2022.
In a letter co-signed by the Minister of finance, Dr. Abdirahman Beileh, and the Governor of the Central Bank, Abdirahman Mohamed Abdullahi which was addressed to Managing Director of IMF, Ms Georgieva, Somalia demanded the review of the program to pushed to three months to August 17, 2022, due to elections delay.
Somalia was to hold its parliamentary and presidential elections last year but the process dragged out due to constant political wrangling between the top leaders of the federal and regional leaders.
According to the letter, no review has been completed since November 2020 and that the ECF program is due to expire on May 17, 2022, if no review has been completed for 18 months.
Somalia is expected elect its next president on May 15, according to the presidential election committee announced.
The Federal Parliament of Somalia’s 15-member committee responsible for organizing the election released the schedule, asking candidates to file nomination papers from Saturday to Monday.
