The Norwegian government has congratulated Somalia for the agreement the East African nation recently signed with the International Monetary Fund (IMF).
Somalia reached an agreement with IMF staff on the second and third reviews of the Extended Credit Facility (ECF).
Dr. Abdirahman Beileh, the Somali Minister of Finance, described ECF as the “basis for successful economic reforms in Somalia.”
Norway Embassy in Somalia commended the East African country for staying on track with the IMF program despite the array of challenges it has recently faced.
In Norway’s view, the agreement now exposes Somalia to numerous possibilities of receiving finances for its economic and social development.
Norway offered to continue supporting fiscal reforms in Somalia.