Somalia and the IMF
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- Somalia and the IMF
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Office Information
Nairobi-Kenya
Email: RR-SOM@imf.org
At a Glance
- 2026 Projected Real GDP (% Change) : 2.6
- 2026 Projected Consumer Prices (% Change): 5.9
- Country Population: 17.438 million
- Date of Membership: August 31, 1962
- Article IV/Country Report: December 17, 2024
- Outstanding Purchases and Loans (SDR): 117 million (March 31, 2026)
- Special Drawing Rights (SDR): 225.55 million
- Quota (SDR): 163.4 million
- Number of Arrangements since membership: 16
Latest status and milestones
- The Executive Boards of the International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) approved Somalia’s Completion Point under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative on December 13, 2023.
- Debt relief will irrevocably reduce Somalia’s external public debt from US$5.3 billion at end-2018 to US$0.6 billion at end-2023.
- Updated: December 13, 2023.
Institutional contacts and representation
- Resident Representative for Somalia: Jehann Jack.
- Title: Resident Representative.
- Name presented: Jehann Jack, Resident Representative.
Key documents and discussion items
- Executive Board Calendar: Board Discussions on Somalia.
- Article IV Staff Reports.
- Financial Position in the Fund.
- Transactions with the Fund.
- Remarks by the Managing Director on Somalia’s HIPC Completion.
- Somalia Country Fund.
- Pivotal Moments: Effective Engagement in Fragile States.
Key questions and topical focus
- The material is updated as of December 2023 and centers on how IMF engagement, policy advice, and financial arrangements relate to Somalia’s macroeconomic situation and debt relief under the HIPC framework.