Somalia: Poverty Reduction Strategy Paper-Joint Staff Advisory Note
IMF Staff Country Reports, December 21, 2023
Source details
- Canonical URL
- Somalia: Poverty Reduction Strategy Paper-Joint Staff Advisory Note
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Bibliographic details
- Published: December 21, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400264702.002
Context and scope
- Joint Staff Advisory Note (JSAN) on the Poverty Reduction Strategy Paper for Somalia.
- Covers implementation of the Ninth National Development Plan in 2021 and 2022.
- Mid-term review report addresses concerns raised in staff’s previous JSAN on Enhanced Heavily Indebted Poor Countries (HIPC) Completion Point, climate change, and revenue mobilization.
Shocks and humanitarian impact
- Since 2020 Somalia has been affected by:
- a desert locust infestation,
- persistent drought,
- the coronavirus disease 2019 pandemic,
- global food and fuel price increases due to Russia’s invasion of Ukraine.
- Food insecurity: the number of people facing food insecurity due to the drought rose from 3.2 million in January 2022 to5.6 million by end-2022.
Political timing and external financing
- Parliamentary and Presidential elections that were supposed to commence by end-2020 were not completed until in May 2022.
- Electoral delays affected the timing of external grant disbursements.
Progress toward HIPC Completion Point
- As of September 2023 the government has completed 13 of 14 Completion Point triggers.
Publication metadata (from the page)
- Publication date: December 21, 2023
- Series: Country Report No. 2023/441
- Pages: 17
- Issue: 441
- DOI: https://doi.org/10.5089/9798400264702.002
- ISBN: 9798400264702
- ISSN: 1934-7685
Source: Somalia: Poverty Reduction Strategy Paper-Joint Staff Advisory Note, December 21, 2023.
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