WASHINGTON D.C., United States of America, January 24, 2018–International Monetary Fund (IMF) Managing Director Christine Lagarde met with Somali Prime Minister Hassan Ali Khayre on January 23 on the margins of the World Economic Forum in Davos. The underlying economic conditions in Somalia remain difficult, but the authorities are making strong efforts to rebuild their country. Somalia’s debt relief is a priority for the IMF and every effort is being made to accelerate the process within established procedures.
The Managing Director and Prime Minister Khayre discussed the IMF’s support for Somalia, especially through two Staff-Monitored Programs and extensive technical assistance. Somalia is among the largest recipients of IMF technical assistance. The Managing Director reiterated the Fund’s continued active engagement with Somalia, including to reach the point that enables it to receive debt relief under the Heavily Indebted Poor Country (HIPC) initiative.