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

_IMF Staff Country Reports, July 31, 2023_

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## Bibliographic details
- Published: July 31, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400251726.002

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### Overview
- The Joint Staff Advisory Note (JSAN) reviews the first Annual Progress Report (APR) on Somalia’s Ninth National Development Plan (NDP9).
- NDP9 covers 2020–2024 and is organized around four pillars: Inclusive Politics, Security and the Rule of Law, Economic Development and Social Development.
- The JSAN concurs with the APR’s assessment that important progress has been made on implementation of NDP9 despite challenges from the “triple shocks” faced by Somalia in 2020.

### Context and challenges
- Somalia began implementing NDP9 amid the “triple crises” of locust infestations, a global pandemic, and floods.
- Specific shocks noted:
  - An outbreak of desert locusts started in 2019 that threatened the food supply across the Horn of Africa.
  - The coronavirus disease 2019 pandemic in 2020.
  - Floods (timing and magnitude described contextually in the source).

### Progress on macroeconomic stability and reforms
- IMF Staff view: despite multiple shocks, Somali authorities preserved macroeconomic stability and maintained reform momentum.
- Areas of strengthened reform:
  - Domestic revenue mobilization
  - Public financial management
  - Financial sector regulation and supervision
  - Statistics
  - Governance

### Findings (enumerated)
- NDP9 is nationally owned and a comprehensive strategy for poverty reduction and inclusive growth.
- Implementation progress is described as important by the APR and concurred with by IMF Staff.
- The 2020 external and domestic shocks did not prevent continued reform efforts across key macroeconomic and governance areas.

### Policy recommendations and priorities (implied by JSAN concurrence)
- Continue strengthening domestic revenue mobilization efforts.
- Further enhance public financial management systems.
- Continue improving financial sector regulation and supervision.
- Improve statistical capacity to support policy and monitoring.
- Strengthen governance frameworks to support implementation of NDP9.

### Publication and metadata (preserve exact values)
- Pages: 18
- Volume: 2023
- Issue: 287
- Series: Country Report No. 2023/287
- DOI: https://doi.org/10.5089/9798400251726.002
- Stock No: 1SOMEA2023002
- ISBN: 9798400251726
- ISSN: 1934-7685
- Publication date on landing page: July 31, 2023
- Format noted: IMF Staff Country Reports

### Subject and keywords (as provided)
- Subject: Budget planning and preparation, Expenditure, International organization, Monetary policy, Poverty, Poverty reduction strategy, Public financial management (PFM)
- Keywords: advisory note, Budget planning and preparation, cash transfer program, copyright page, feedback to the country, Global, objective of the JSAN, Poverty reduction strategy

*International Monetary Fund. Middle East and Central Asia Dept. "Somalia: Poverty Reduction Strategy Paper-Joint Staff Advisory Note", IMF Staff Country Reports 2023, 287 (2023).*

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_Source: https://www.imf.org/en/publications/cr/issues/2023/07/28/somalia-poverty-reduction-strategy-paper-joint-staff-advisory-note-537311_