IMF Praises Somalia’s Reform Progress after Fourth Review of Cooperation Program

GOOBJOOG NEWS | WASHINGTON: The International Monetary Fund (IMF) has concluded the fourth review of its cooperation program with Somalia, following two weeks of discussions between Somali government officials and IMF staff assessing the country’s economic reform progress.

The meetings, held in Nairobi from September 16 to October 8 and led by Somalia’s Ministry of Finance alongside IMF representatives under the supervision of Ran Bi, IMF Resident Representative in Somalia, produced concrete outcomes to support ongoing fiscal and structural reforms.

The IMF Executive Board approved the review, noting that Somalia has maintained a steady path of reform implementation since the previous assessment.

Finance Minister Bihi Iman Seigi welcomed the report, saying it reflects the government’s determination to strengthen economic resilience and build a stable, growth-oriented financial system. “The Somali economy is in a good position, and we remain committed to advancing key reforms,” he said.

The review covered fiscal discipline, domestic revenue mobilization, and structural changes aimed at improving governance, financial transparency, and public service delivery — all part of Somalia’s broader strategy for sustainable economic growth.

IMF officials said the progress demonstrates Somalia’s commitment to maintaining reform momentum and enhancing macroeconomic stability as it continues to rebuild institutions after decades of fragility.