No consultations with the IMF for more than 20 years
The International Monetary Fund (IMF) has confirmed that for the 20th year in a row they have been unable to complete an Article IV consultation with the government of Somalia.
The full press release as published on the IMF website is as follows:
“Delayed Article IV Consultation with Somalia
Press Release No .13/293
August 1, 2013
In line with a framework introduced in 2012 for addressing excessive delays in the completion of Article IV consultations, the Executive Board of the International Monetary Fund (IMF) was informed on July 26, 2013 that there could not be a briefing to the Board with an assessment of economic developments and policies in Somalia, whose Article IV consultation has been delayed for more than 20 years, due to a lack of adequate information that would allow staff to make such an assessment.
Under the framework, sessions to brief the Board are held approximately every 12 months for members whose Article IV consultations are delayed by more than 18 months, provided that adequate information is available.”