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Somalia nears $30M IMF payout after staff-level deal, amid ongoing violence, economic slowdown, and aid needs.
Somalia has reached a staff-level agreement with the IMF on the fourth review of its Extended Credit Facility, paving the way for a $30 million disbursement if approved.
Economic growth is projected at 3% in 2025, down from 4.1% in 2024, due to political tensions, climate shocks, and reform fatigue.
Al-Shabaab violence has risen 15% since 2023, displacing over half a million people, while weakened security institutions face challenges from corruption, politicization, and poorly vetted recruitment.
The insurgency benefits from links to corruption and illicit trade, with up to 40% of its revenue tied to state-connected activities.
Despite progress in debt relief and fiscal discipline, Somalia seeks an additional $40 million in aid to counter external shocks and support social spending, underscoring the need for sustained reforms and international support.
Somalia se acerca a un pago de 30 millones de dólares del FMI después de un acuerdo a nivel de personal, en medio de la violencia en curso, la desaceleración económica y las necesidades de ayuda.