Somalia: International Monetary Fund Promises Technical Assistance to Somalia

Officials from the International Monetary Fund (IMF) met with Somali government officials in Nairobi over the past week to explore ways of providing policy advice and technical assistance to Somalia, the IMF announced Monday (June 24th).

The IMF said it is ready "to engage in policy discussions with the Somali authorities and provide technical assistance to meet the vast needs of the country". The assistance will focus on supporting the Ministry of Finance and Central Bank in managing budget functions, licensing and supervising commercial banks, and overseeing basic monetary and foreign exchange transactions.

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