Author: Marketforces Africa

MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

IMF Completes First Review of $10m Extended Credit Facility for Somalia The Executive Board of the International Monetary Fund (IMF) today completed the first review of the Extended Credit Facility (ECF) arrangement for Somalia. The Board’s decision enables the immediate disbursement of SDR 7 million (about US$10 million), bringing Somalia’s total disbursements under the arrangement to SDR 257.4 million (about US$365.5 million). Somalia’s ECF arrangement was originally approved by the Executive Board on March 25, 2020 for SDR 292.4 million (about US$395.5 million or around 179 percent of Somalia’s quota). The ECF arrangement aims to support the implementation of the…

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