Somali finance minister to meet IMF officials in Ethiopia to discuss debt relief

A delegation led by Minister of Finance Abdirahman Duale Beyle leading a delegation will today meet officials from the International Monetary Fund (IMF) in Addis Ababa to discuss the fourth phase of the Somali pardon program (SMP4).

The meeting is expected to discuss what the Ministry of Finance of Somalia has done during the last three months in terms of the IMF requirements.

The minister of planning and the governor of the Central Bank of Somalia are also accompanying the finance minister to the talks.

During the meeting, Minister Beyle and his delegation are also expected to hold separate meetings with the heads of international financial institutions and some donor countries to discuss Somalia’s debt relief.

The finance minister has expressed confidence that the negotiations with the IMF will lead to writing off of Somalia’s debts after the conclusion of the Phase 4 talks.

In May 2019, Minister Beyle said that the country must work extra hard to meet stringent requirements by the IMF in the coming months to qualify for partial debt relief in the first quarter of 2020.