This web page provides information in on the activities of the Office, views of the IMF staff, and the relations between Somalia and the IMF.

April 13, 2016

Somalia Res Rep and Lagarde Following a meeting with the Somali authorities in Washington, D.C. today, Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), made the following statement: “It has been a great pleasure to discuss Somalia’s reform priorities with Minister of Finance Mohamed Adan Ibrahim, and Central Bank Governor Bashir Issa Ali.

“I congratulated the Somali authorities for reaching an agreement with IMF staff on a Staff-Monitored Program (SMP), marking another milestone in normalizing relations with international financial institutions. I welcome the renewed engagement with the IMF, which will allow us to provide much-needed advice and assistance to continue to rebuild institutions, improve governance and help the reconstruction of the country. More generally, Somalia will also need the continued support of the international community.”

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At a Glance: Somalia's Relations with the IMF 

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Office Activities

  • Financial Governance Report

    This report sets out the financial governance priorities the Financial Governance Committee (FGC) believes need to be addressed in the coming year to strengthen state-building efforts going forward.

    May 12, 2017

  • IMF-SOMALIA Trust Fund for Capacity Development

    In the past three years, Somalia has begun to recover from the civil war, which ravaged the country’s economy and decimated key state and economic institutions such as the Ministry of Finance, the Central Bank, and the National Statistics Office...

    December 6, 2016

  • IMF praised at the HLPF for its support to Somalia -- Communiqué

    Representatives from 46 countries and 11 international organisations gathered inIstanbul on 23 and 24 February 2016 to participate in the third Ministerial High‐Level Partnership Forum (HLPF)

    February 24, 2016

  • Somalia is Back! Op-ed

    Oped by Samba Thiam, IMF’s Resident Representative to Somalia

    July 1, 2015

  • Somalia: At the Crossroads of Peril and Opportunity

    Despite very challenging conditions, Somalia has managed to achieve considerable progress since it resumed relations with the Fund in April 2013. Sustained growth and development will require continuous international support and capacity building, but the success of Somalia will ultimately rest on the strength of its people – and this they have in abundance.

    February 2, 2015

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Regional Economic Outlook: Middle East & Central Asia

REGIONAL ECONOMIC OUTLOOK

Middle East, North Africa, Afghanistan, and Pakistan

April 2017

A more favorable global environment is helping to improve economic prospects in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) and Caucasus and Central Asia (CCA) regions, although growth prospects remain subdued.
To improve growth and boost living standards, countries in the MENAP region face an ongoing need to enact strong and lasting structural reforms, while consolidating their fiscal positions.
While growth is improving in the CCA, growth levels are still half of what they were during the last decade. Like MENAP, the CCA is facing a number of structural reform priorities, including repairs to its vulnerable financial sector.
Read the report