The International Monetary Fund could stop its support programme to Somalia if scheduled elections face further delays.
According to a senior official for Somali Laura Jaramillo the debt relief programme needs to be reviewed by 17th of May.
“That review of the IMF supportive programme for Somalia needs to be completed by May 17th 2022 by a new government, if it is not completed by that date the programme automatically terminates.”
This will in turn would affect the country’s budget and the plan to reduce the country’s debt from 5.2 Billion dollars to 560 Million dollars.
Elections in Somalia are long overdue due to disagreements on the mode of conducting the polls.
They were initially set for November 2020.
However, Jaramillo says the country’s authorities have worked hard to strengthen government institutions, particularly in terms of tax collection and controlling public spending.
“Overall, we see a lot of potential for Somalia’s growth for 2022 and going forward.”
She says, Somalia’s GDP grew by two percent in 2021.
A newsmaker, reporter and anchor at Pearl Radio, Ndalilah Sharon is witty and savvy.
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