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Somalia asks the IMF to postpone the review of the economic program

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Today the Somali government officially announced that it has asked the International Monetary Fund to extend its financial support for a period of three months.

The head of the mission of the International Monetary Fund in Somalia, Laura Aramelo said in a communiqué: The Somali government has made an official request to the International Monetary Fund Council to postpone the review of the economic program in order to complete the talks on the renewal of the budget support program.

He added that the extension is expected to be approved until August 17 and that political agreements with the new government will be confirmed after the completion of the presidential elections.

It is worth noting that the International Monetary Fund had warned last February that the postponement of the legislative and presidential elections in Somalia is threatening the renewal of the nearly $ 400 million three-year budget support program, which expires automatically this month.

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