FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva speaks at a news conference following the “1+6” Roundtable meeting at the Diaoyutai state guesthouse in Beijing, China November 21, 2019. REUTERS/Florence Lo
December 18, 2019
WASHINGTON (Reuters) – The International Monetary Fund’s executive board has approved a financing plan that will help the IMF cover its share of debt relief for Somalia, IMF Managing Director Kristalina Georgieva said in a statement on Wednesday.
The financing plan includes cash grants from member countries and IMF internal resources, she said, without providing any further details of the financing package.
“This marks a critical step in helping Somalia advance the process of normalizing relations with the international community and making progress towards achieving debt relief under the Heavily-Indebted Poor Country (HIPC) initiative,” Georgieva said. A decision unlocking debt relief could come soon, she added.
(Reporting by Andrea Shalal; Editing by Chris Reese)
