Somalia’s Minister of Finance, Bihi Egeh, announced on Monday that he is leading the policy discussion segment of the Extended Credit Facility (ECF) Program Review with the International Monetary Fund (IMF) this week. The high-level engagement comes on the heels of a week-long technical dialogue between Somali government experts and IMF staff.
“It is a pleasure to be leading the policy discussion segment of the ECF Program Review with the IMF this week,” Egeh said. “This follows another week-long engagement between our government’s diverse technical teams and the IMF, where key anchors of Somalia’s economy and its future growth potential were under review,” he added.
Egeh emphasized the government’s unwavering commitment to continuing its ambitious reform agenda. He highlighted progress in domestic revenue mobilisation, public financial management, and financial sector development, while also reaffirming the government’s goal of fostering private-sector-led growth.
The ECF Review is a vital component of Somalia’s ongoing collaboration with the IMF, as the country seeks to consolidate recent gains in economic governance, improve service delivery, and attract sustainable investment. It also plays a critical role in Somalia’s post-debt relief trajectory following the achievement of the HIPC Completion Point in 2023.
The discussions this week are expected to inform future reform priorities and financial support mechanisms as Somalia works toward economic stability and inclusive growth.