{
  "title": "Somalia: 2016 Article IV Consultation — Press Release; Staff Report; and Statement by the Executive Director for Somalia",
  "publication": "IMF Staff Country Reports, February 27, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/02/27/somalia-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-44706",
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  "summary": "This 2016 Article IV Consultation highlights the Government of Somalia’s continued significant efforts toward restoring its key economic and financial institutions despite a very difficult political environment.",
  "publishDate": "2017-02-27",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Executive summary and outlook",
      "content": "- The 2016 Article IV Consultation highlights the Government of Somalia’s continued significant efforts toward restoring key economic and financial institutions despite a very difficult political environment.\n- The Somali economy is expected to continue to be sustained by donor grants, remittances, and foreign direct investment, mostly by the Somali diaspora.\n- Economic activity is projected to decelerate in 2016–17.\n- Growth is projected to be 3.4 percent and 2.5 percent in 2016 and 2017, respectively."
    },
    {
      "heading": "Fiscal framework, revenue, and structural reform priorities",
      "content": "- The Somali government will continue to implement measures to improve the fiscal framework.\n- Priority actions include raising tax revenue and implementing structural reforms to support institutional restoration and fiscal stability."
    },
    {
      "heading": "External support, remittances, and balance of payments",
      "content": "- Continued reliance on donor grants, remittances, and foreign direct investment (mostly by the Somali diaspora) is expected to sustain the economy.\n- Topics covered under the consultation include Arrears, Balance of payments, Currency reform, External debt, Money, Public financial management (PFM), Remittances, and Revenue administration."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Arrears, Balance of payments, Currency reform, External debt, Money, Public financial management (PFM), Remittances, Revenue administration\n- Keywords: Arrears, authorities' plan, authority, CR, Currency reform, currency reform strategy, Executive Board assessment, Global, governance, ISCR, Kenyan authorities, Remittances, Somali authorities, state building\n\nSource: Somalia: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Somalia (IMF Staff Country Report 2017, 061).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/02/27/somalia-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-44706"
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    "Published: February 27, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475583021.002",
    "The 2016 Article IV Consultation highlights the Government of Somalia’s continued significant efforts toward restoring key economic and financial institutions despite a very difficult political environment.",
    "The Somali economy is expected to continue to be sustained by donor grants, remittances, and foreign direct investment, mostly by the Somali diaspora.",
    "Economic activity is projected to decelerate in 2016–17.",
    "Growth is projected to be 3.4 percent and 2.5 percent in 2016 and 2017, respectively.",
    "The Somali government will continue to implement measures to improve the fiscal framework.",
    "Priority actions include raising tax revenue and implementing structural reforms to support institutional restoration and fiscal stability.",
    "Continued reliance on donor grants, remittances, and foreign direct investment (mostly by the Somali diaspora) is expected to sustain the economy.",
    "Topics covered under the consultation include Arrears, Balance of payments, Currency reform, External debt, Money, Public financial management (PFM), Remittances, and Revenue administration.",
    "Subjects: Arrears, Balance of payments, Currency reform, External debt, Money, Public financial management (PFM), Remittances, Revenue administration",
    "Keywords: Arrears, authorities' plan, authority, CR, Currency reform, currency reform strategy, Executive Board assessment, Global, governance, ISCR, Kenyan authorities, Remittances, Somali authorities, state building",
    "**Country Report**"
  ],
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