The International Monitory Fund (IMF) said it is closely working with the Federal Government of Somalia to conclude the debt relief process.

IMF spokesman, Gerry Rice confirmed that Somalia’s debt relief is a priority for the IMF Management.
“The IMF is working closely with Somalia and donors to advance towards debt relief.” Mr. Rice said while speaking to journalists in Washington DC.

The IMF Board will meet next week to discuss Somalia’s cost of debt relief.

“We are working Somalia and our members to secure financial resources necessary to clear arrears to IMF owed by Somalia and the cover cost of debt relief.” IMF Spokesman, Gerry Rice said.

On the other hand, the Somali government thanked the International Monitory Fund for its commitment to help in the debt relief process.

Somalia Finance Minister, Dr. Abdirahman Duale Beyle said his country is taking rigorous steps towards economic reforms that are necessary to achieve the debt cancellation procedure.

“We are undertaking the rigorous economic reforms necessary under SMP4. We thank all our partners for their assistance support.” Dr. Beyle said, adding “the Debt relief will transform Somalia.

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