Somalia: Second and Final Review Under the Staff-Monitored Program and Request for a New Staff-Monitored Program-Press Release and Staff Report
July 11, 2017
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This paper discusses Somalia’s Second and Final Review Under the Staff-Monitored Program (SMP) and Request for a new SMP. Program implementation through end-December 2016 and end-March 2017 was broadly satisfactory. In view of this performance and the remedial measures by the authorities to address shortcomings in performance under the first SMP, the IMF management agreed to the completion of the second and final review of the program. Risks to the program and the outlook are high, including the fragile security situation, weak institutional capacity, and major refugee and humanitarian crises. However, the authorities’ continued commitment to the program and sustained and coordinated international support should help mitigate these risks.
Subject: Arrears, Budget planning and preparation, Currency reform, External debt, Money, Public financial management (PFM), Revenue administration
Keywords: Arrears, authorities' capacity, Budget planning and preparation, bullet, CR, Currency reform, Global, governance, government, ISCR, management of the IMF, policy, reform agenda, renewed commitment, Somali authorities
Pages:
60
Volume:
2017
DOI:
Issue:
204
Series:
Country Report No. 2017/204
Stock No:
1SOMEA2017002
ISBN:
9781484309100
ISSN:
1934-7685
