Somali minister for Finance, Abdirahman Baileh has talked with official International Monetary Fund (IMF) in Addis Ababa, the capital city of Ethiopia.
In a Twitter post, the minister said he discussed with the officials over means to review the Staff-Monitored Program (SMP).
The minister hoped that the meeting offered an opportunity to further discussed the SMP.
"Today we have started SMP review with our colleagues from the IMF in #AddisAbaba. This review gives both sides an opportunity to finalise SMP III. We look forward to productive &positive discussions in the comings days on the next program. Reforms are key to Somalia's progress," the twitter reads.
The third staff-monitored programme is planned to run between May 2018-April 2019.
The program will focus on broadening and deepening reform implementation to maintain macroeconomic stability and to continue rebuilding institutions and capacity to improve macroeconomic management and governance.
SMP III is aimed at building achievements under the previous two SMPs.
It will continue to lay the foundation so that Somalia will eventually have a SMP that meets the IMF Upper Credit Tranche (UCT) conditionality which is one of the key requirements for Somalia to reach the Decision Point under the Heavily Indebted Poor Countries (HIPC) initiative.
Post Views: 83
Read the original article on Shabelle.
AllAfrica publishes around 600 reports a day from more than 150 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.
AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 600 news and information items daily from over 150 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Monrovia, Nairobi and Washington DC.