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.

Somalia and the imf country page

April 13, 2016

Somalia Res Rep and Lagarde Following a meeting with the Somali authorities in Washington, D.C., 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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IMF's Work on Somalia

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November 6, 2018

A modest growth recovery continues for countries in the Middle East, North Africa, Afghanistan, and Pakistan region. Higher oil prices are providing support for oil-exporting countries but are adding to pressures facing oil-importing countries. Meanwhile, growth in the Caucasus and Central Asia region exceeded expectations in 2017, but momentum is set to fade. At forecasted growth rates, it will take the region nearly two decades to reach the per capita income levels of emerging Europe. Faster-than-anticipated tightening of global financial conditions and rising trade tensions cloud the outlook for both regions. The increasingly challenging global environment underscores the need for both regions to build resilience and accelerate reforms that build dynamic private sectors and promote inclusive growth.
Read the Report