IMF reviews Somali economy for first time in 25 years


The International Monetary Fund (IMF) says it has completed its first economic consultation on Somalia in more than 25 years.
The IMF said in a statement at the end of its June 8-18 mission, that Somalia’s economy that is rebuilding after decades of conflict grew by 3.7 per cent in 2014.
“Somalia’s growth may lag others in the region but the government will be encouraged by the mere fact that an annual IMF Article IV consultation has taken place.
“Economic activity is estimated to have expanded by 3.7 percent in 2014, driven by growth in agriculture, construction and telecommunications.
“With modest progress on the …Read More

Source:: New Mail