Somalia

IMF managing director Kristalina Georgieva announces financing milestone on Somalia debt relief

The International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Wednesday morning announced that IMF had secured sufficient financing pledges to provide 'comprehensive debt' relief to Somalia.In a statement from Washington D.C., the...

Democracy returns to Somalia after 50 years as President Farmaajo signs federal electoral bill into law

Democracy is returning to the federal republic of Somalia after nearly 50 years. On Friday, President Mohamed Abdullahi Farmaajo signed the long-awaited election bill into law during a historic event at the State House, Villa Somalia.

IMF, World Bank reach preliminary agreement to forgive most of Somalia’s debt measured at $5.3 billion in 2018

Somalia is eligible for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative, the Executive Boards of the International Monetary Fund (IMF) and World Bank said on Thursday, following a two-day meeting in Washington...

Police gunshot to the head, Al-Shabaab bomb attacks, Amnesty warns journalists under siege in Somalia under President Mohamed Abdullahi ‘Farmajo’

Amnesty International warned on Wednesday that "a surge in violent attacks, threats, harassment and intimidation of media workers" as well as blatant bribery and social media hounding have turned Somalia into one of the most dangerous...

Amnesty calls on Kenya to arrest escaped Jubaland minister Abdirashid Janan and return him to Somalia

Amnesty International on Monday called on Kenyan authorities to immediately detain Abdirashid Janan a regional security minister in Somalia who was arrested for serious crimes on 31 August 2019 but recently escaped from detention and is currently in...

IMF reaches preliminary agreement with Somalia on new three-year loan but arrears must be cleared first

The International Monetary Fund (IMF) has reached a preliminary agreement with Somalia on a new three-year loan under an extended credit facility (ECF) and an extended fund facility (EFF).The preliminary agreement is...

Massacre in Somalia: At least 76 people killed in bomb blast

A bomb blast on Saturday morning killed at least 76 people in Mogadishu, the capital of Somalia.No one has claimed responsibility for the attack, but al-Qaeda-affiliated Islamist militia al-Shabab has regularly attacked...

Kristalina Georgieva ecstatic after IMF board approves financing plan for Somalia debt relief

The Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva, was estatic on Wednesday, after the IMF Executive Board approved a financing plan to cover its share of debt relief to Somalia.

Latest News

Eradicating extreme poverty by 2030 now highly unlikely amid COVID-19 – Report

Prospects for fully eradicating extreme poverty by 2030 now appear highly unlikely, even under the most...

South Africa launches $6 billion COVID-19 employment stimulus

South Africa has launched a $6 billion (R100 billion) COVID-19 employment stimulus to be implemented over the next three years.

Principality of Andorra becomes IMF’s 190th Member

The Principality of Andorra joined the International Monetary Fund (IMF) on Friday, becoming the Fund's 190th member.Ambassador...

Eradicating extreme poverty by 2030 now highly unlikely amid COVID-19 – Report

Prospects for fully eradicating extreme poverty by 2030 now appear highly unlikely, even under the most optimistic scenarios, according to a...

IMF’s Georgieva says second round of support coming to Africa but Oxfam argues debt cancelation the only way out of COVID-19 turmoil

The Managing Director of the International Monetary Fund (IMF) Ms. Kristalina Georgieva said on Wednesday that the Washington DC-based institution is...

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]