The International Monetary Fund’s executive board has approved a financing plan that will help the IMF cover its share of debt relief for Somalia, IMF Managing Director Kristalina Georgieva said in a statement on Wednesday.
“We have very good news from the IMF Executive Board today. A decision on a financing plan to mobilize resources or the Fund’s Share of debt Relief for Somalia.” said IMF Managing Director Kristalina Georgieva
“This is a global effort, mobilizing countries rich, poor big and small to a very important objectives: Clear the debt of a country that for the last 30 years has experienced the tragedy of war and destruction.” the Director added.
“But today, because of the will of its people and its gov”t is turning a page. Reforming its economy, bringing its society together. And I am proud that the International Monetary Fund is a partner in supporting Somalia. I am very grateful to all our shareholders for their generosity to clear the obstacles for Somalia to move forward.” Kristalina further added.