Somalia has received a fresh disbursement of $10 million from the International Monetary Fund (IMF).
Announcing the disbursement on Thursday, IMF’s Executive Board stated that the funds are for budgetary support.
With this, the total disbursement that Somalia has received from IMF through the Extended Credit Facility (ECF) has risen to $50 million.
IMF stated that it released the funds because of Somalia’s strong performance under ECF.
It also praised the solid ownership of the reform agenda that Somalia continues to embark on and pursue.