Somalia Poverty Reduction Strategy Paper-Joint Staff Advisory Note

This Joint Staff Advisory Note on the Poverty Reduction Strategy Paper discusses that Somalia has made noteworthy progress since 2012 to recover from decades of conflict and state fragmentation. The country has succeeded in rebuilding core state capabilities and organized two democratic national ele...

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Bibliographic Details
Corporate Author: International Monetary Fund Middle East and Central Asia Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2020
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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653 |a Finance, Public 
653 |a Provision and Effects of Welfare Program 
653 |a Budget Systems 
653 |a Public finance & taxation 
653 |a Fiscal Policy 
653 |a Fiscal governance 
653 |a Budget planning and preparation 
653 |a Fiscal policy 
653 |a Social welfare & social services 
653 |a Poverty and Homelessness 
653 |a Budgeting 
653 |a Social Services and Welfare 
653 |a National Government Expenditures and Related Policies: General 
653 |a Poverty reduction strategy 
653 |a Welfare, Well-Being, and Poverty: General 
653 |a Poverty & precarity 
653 |a Budget 
653 |a Poverty 
653 |a Macroeconomics 
653 |a Public financial management (PFM) 
653 |a National Budget 
653 |a Budgeting & financial management 
653 |a Public Finance 
653 |a Government Policy 
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520 |a This Joint Staff Advisory Note on the Poverty Reduction Strategy Paper discusses that Somalia has made noteworthy progress since 2012 to recover from decades of conflict and state fragmentation. The country has succeeded in rebuilding core state capabilities and organized two democratic national elections in 2012 and 2017. Somalia has now reached the stage where it seeks to fully reengage the international community and is requesting debt relief through the heavily indebted poor countries initiative. The authorities developed the Ninth National Development Plan (NPD9) through a highly consultative, participatory process that ensured full country ownership. The macroeconomic policy objectives of NDP9 are to promote economic growth in an environment of low inflation, sustainable fiscal and current account balances, and healthy foreign exchange reserves. The IMF staff recommends updating framework to incorporate greater support for poverty reduction and additional financing from development partners during the interim period. The IMF staff supports the authorities’ commitment to issuing new Somali shilling banknotes, while maintaining de facto dollarization