Somalia is on track to receive debt relief status by December 2023.
The Central Bank of Somalia made this declaration on Wednesday after the latest round of talks and evaluation by the International Monetary Fund (IMF).
Ms. Laura Jaramillo led the team from the IMF in the talks with officials from the Somali government.
Consequently, the latest developments put Somalia in line to access around $100 million through the Extended Credit Facility (ECF).
Jaramillo commended Somalia for the incredible steps it has made in not only rebuilding its economy but also the relevant institutions.