Somalia, IMF reach preliminary deal on $100 million in new funding
© Reuters. FILE PHOTO: The International Monetary Fund logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
The so-called staff-level agreement under the Extended Credit Facility is subject to approval from the fund's board. It is to help Somalia's economic institutions put together policies for when it reaches the point it can achieve debt relief under the fund's Heavily Indebted Poor Countries Completion scheme, aimed for December.
"Growth is currently insufficient to reduce widespread poverty, address large social needs, and create sufficient jobs for the youth. Somalia is highly vulnerable to climate shocks that hurt growth and hinder poverty reduction efforts."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why does Texas Rangers’ pitcher Nathan Eovaldi give first baseman Nathaniel Lowe $100 bribes?The Texas Rangers play the Arizona Diamondbacks in game 4 of the World Series but why will Nathaniel Lowe be hoping for ground balls at fist?
Read more »
GE’s Pension Invested $100 Million in a New ETFGeneral Electric’s pension disclosed a stake in the Simplify Market Neutral Equity Long/Short exchange-traded fund in the third quarter.
Read more »
Oil Bulls’ Unlearned War Lesson: $100 Pricing Needs Real Trade DisruptionCommodities Analysis by Investing.com (Barani Krishnan) covering: Brent Oil Futures, Crude Oil WTI Futures, ProShares UltraShort Bloomberg Crude Oil, ProShares Ultra Bloomberg Crude Oil. Read Investing.com (Barani Krishnan)'s latest article on Investing.
Read more »
Black Friday deal saves you $100 on Google’s Nest Hub Max smart displayThe Google Nest Hub with a 10-inch screen has a significant discount at Best Buy today.
Read more »
The Best Early Black Friday iPad Deals at Amazon: Save $100 on Apple iPads Right NowThe latest iPad models are up to $100 off at Amazon's Early Black Friday Sale.
Read more »
Oil tame below $100 per barrel despite Israel-Hamas crisisPrices have come back to where they were right when markets first reacted on Oct. 7.
Read more »