IMF Staff Country Reports

Somalia: 2024 Article IV Consultation and Second Review Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia

December 17, 2024

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Format: Chicago

International Monetary Fund. Middle East and Central Asia Dept. "Somalia: 2024 Article IV Consultation and Second Review Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia", IMF Staff Country Reports 2024, 346 (2024), accessed March 19, 2025, https://doi.org/10.5089/9798400297090.002

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Summary

Economic activity has picked up in recent months, supported by a rebound in agriculture and remittances, and growth projections for 2024 and 2025 have been upgraded to 4 percent. However, the domestic security situation remains challenging and geopolitical tensions in the Horn of Africa remain elevated.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Asset and liability management, Crime, Debt Relief, External debt, Public debt, Revenue administration

Keywords: Africa, Anti-money laundering and combating the financing of terrorism (AML/CFT), Capacity development support, Debt relief, East Africa, Global, IMF CD support, Middle East, North Africa, Payments system oversight, Somali authorities, U.S. dollar banknote

Publication Details

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