## Somalia: Poverty Reduction Strategy Paper—Joint Staff Advisory Note

_IMF Staff Country Reports, March 26, 2020_

## Source details

**Canonical URL:** [Somalia: Poverty Reduction Strategy Paper—Joint Staff Advisory Note](https://www.imf.org/en/publications/cr/issues/2020/03/26/somalia-poverty-reduction-strategy-paper-joint-staff-advisory-note-49291)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/03/26/somalia-poverty-reduction-strategy-paper-joint-staff-advisory-note-49291/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/03/26/somalia-poverty-reduction-strategy-paper-joint-staff-advisory-note-49291/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/03/26/somalia-poverty-reduction-strategy-paper-joint-staff-advisory-note-49291/bundle-manifest.json)

## Bibliographic details
- Published: March 26, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513538358.002

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### Overview and progress since 2012
- Somalia has made noteworthy progress since 2012 to recover from decades of conflict and state fragmentation.
- The country rebuilt core state capabilities and organized two democratic national elections in 2012 and 2017.
- Somalia has reached the stage where it seeks to fully reengage the international community and is requesting debt relief through the heavily indebted poor countries initiative.
- The authorities developed the Ninth National Development Plan (NDP9) through a highly consultative, participatory process that ensured full country ownership.

### Macroeconomic policy objectives of NDP9
- Promote economic growth in an environment of low inflation.
- Achieve sustainable fiscal and current account balances.
- Maintain healthy foreign exchange reserves.
- Support issuance of new Somali shilling banknotes while maintaining de facto dollarization.

### IMF staff assessment and recommendations
- IMF staff recommends updating the framework to incorporate greater support for poverty reduction and additional financing from development partners during the interim period.
- IMF staff supports the authorities’ commitment to issuing new Somali shilling banknotes, while maintaining de facto dollarization.

### Subject focus and keywords
- Subjects: Budget planning and preparation; Fiscal governance; Fiscal policy; Poverty; Poverty reduction strategy; Public financial management (PFM).
- Keywords: Africa; Budget planning and preparation; connections to the RRF; core government function; CR; debt management; East Africa; Fiscal governance; Global; government; government structure; ISCR; NDP topic; NDP9; Poverty reduction strategy; private sector; Somali government.

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## Content in this bundle

- **Somalia Ninth National Development Plan**
  - [Somalia Ninth National Development Plan (Markdown version)](/-/media/files/publications/cr/2020/english/1somea2020004.pdf.md){rel="alternate" type="text/markdown"}
  - [Somalia Ninth National Development Plan (PDF)](/-/media/files/publications/cr/2020/english/1somea2020004.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2020/03/26/somalia-poverty-reduction-strategy-paper-joint-staff-advisory-note-49291_