## Somalia: Second Review Under the Staff-Monitored Program and Request for Three-Year Arrangements Under the Extended Credit and The Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia

_IMF Staff Country Reports, March 26, 2020_

## Source details

**Canonical URL:** [Somalia: Second Review Under the Staff-Monitored Program and Request for Three-Year Arrangements Under the Extended Credit and The Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Somalia](https://www.imf.org/en/publications/cr/issues/2020/03/26/somalia-second-review-under-the-staff-monitored-program-and-request-for-three-year-49289)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/03/26/somalia-second-review-under-the-staff-monitored-program-and-request-for-three-year-49289/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/03/26/somalia-second-review-under-the-staff-monitored-program-and-request-for-three-year-49289/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/03/26/somalia-second-review-under-the-staff-monitored-program-and-request-for-three-year-49289/bundle-manifest.json)

## Bibliographic details
- Published: March 26, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513538297.002

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### Summary and purpose
- Discusses Somalia’s Second Review Under the Staff-Monitored Program and Request for Three-Year Arrangements Under the Extended Credit and the Extended Fund Facility.
- The three-year financing package will support the implementation of the authorities’ National Development Plan and anchor reforms between the heavily indebted poor countries Decision and Completion Points.
- Pages: 76
- Volume: 2020
- Issue: 085
- Series: Country Report No. 2020/085
- DOI: https://doi.org/10.5089/9781513538297.002
- Stock No: 1SOMEA2020002
- ISBN: 9781513538297
- ISSN: 1934-7685

### Core reform areas and program focus
- Continued strengthening of public finances to meet Somalia’s development needs in a sustainable manner.
- Deepening of central bank capacity.
- Improvement of the business environment and governance.
- Enhancing statistics.

### Expected role of financing and reform sequencing
- The three-year financing package is intended to:
  - Support implementation of the National Development Plan.
  - Anchor reforms between the HIPC Decision and Completion Points.

### Risks to the program and outlook
- Risks remain elevated.
- Immediate political risks concern the upcoming elections.
- Frequent climate shocks continue to contribute to agricultural loss and human displacement.

### Upside potential and growth drivers
- Greater-than-expected impact from reforms under the program could raise growth above the baseline.
- Additional development financing could boost outcomes.
- Development of new industries could lead to higher and more inclusive growth than the baseline.

### Subject classifications and keywords
- Subject: Arrears, Asset and liability management, Debt relief, External debt, Public debt, Public financial management (PFM), Revenue administration
- Keywords: Arrears, authority, concessional donor financing, CR, Debt relief, financing, financing package, Global, government transaction, HIPC decision point, ISCR, macroeconomic challenge, reform, Somali authorities

*IMF Staff Country Report — Somalia: Second Review Under the Staff-Monitored Program and Request for Three-Year Arrangements Under the Extended Credit and the Extended Fund Facility (Country Report No. 2020/085).*

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## Content in this bundle

- **Somalia — IMF staff report and MEFP excerpt**
  - [Somalia — IMF staff report and MEFP excerpt (Markdown version)](/-/media/files/publications/cr/2020/english/1somea2020002.pdf.md){rel="alternate" type="text/markdown"}
  - [Somalia — IMF staff report and MEFP excerpt (PDF)](/-/media/files/publications/cr/2020/english/1somea2020002.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2020/03/26/somalia-second-review-under-the-staff-monitored-program-and-request-for-three-year-49289_