IMF Sees Funding for Somalia If Government Sticks to Reforms
- IMF says reforms making Somalia more attractive to investors
- Somalia economy ticking up but needs peace, central bank says
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Somalia may be eligible to tap financing from the International Monetary Fund and other multilateral lenders if it maintains a reform program intended to help rebuild the country’s war-shattered economy, the IMF country head said.
Prospects for peace after more than two decades of conflict have been boosted after Somalis agreed to elect a new president on Oct. 30, Samba Thiam said in an e-mailed response to questions Aug. 9. The IMF expects the Horn of Africa nation to open up to foreign capital as the government continues to improve its management of the economy, he said.