11 April 2019

Somalia: IMF Managing Director Christine Lagarde Supports Somalia's Efforts to Achieve Debt Relief

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Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), met with Hassan Ali Khaire, Prime Minister of Somalia yesterday in Washington and issued the following statement:

"I was very pleased to meet with Prime Minister Khaire and his economic team at the IMF headquarters. We had a very productive meeting and exchanged views on Somalia's impressive progress in building institutional capacity and implementing its economic reform program amid a continuing fragile security situation. The prime minister reiterated the government's strong commitment to the policies under the Staff Monitored Program (SMP), which expires at the end of the month.

"Following satisfactory completion of the current SMP, I am optimistic that a follow-up program can be agreed that meets one of the key requirements for Somalia to reach the Decision Point under the Heavily Indebted Poor Countries (HIPC) Initiative. Continued strong performance, together with support from international partners, will pave the way for Somalia to receive debt relief in the near future. In this regard, I assured the prime minister of the IMF's full support for Somalia's efforts."

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