The Somali government officially announced that it has applied to the International Monetary Fund for a three-month extension of financial support.
The head of the International Monetary Fund mission in Somalia, Laura Aramelo, said in a press statement: budget support program.
She added that the extension is expected to be approved by August 17, and political agreements with the new government are confirmed after the completion of the presidential elections.
It is worth noting that the International Monetary Fund warned last February that the postponement of parliamentary and presidential elections in Somalia threatened to restart a three-year budget support program worth almost $400 million, which automatically expires this month.
Source: Huber Tusba