WASHINGTON (AFP) – The International Monetary Fund recognized the Federal Government of Somalia Friday, ending a 22-year break in relations that could lead to IMF technical and policy support to the country.
“The International Monetary Fund today recognized the Federal Government of Somalia, headed by President Hassan Sheikh Mohamud, paving the way for the resumption of relations after a 22-year interval,” the IMF said in a statement.
“The decision is consistent with broad international support and recognition of the Federal Government.”
Somalia has been an IMF member since 1962, but relations broke after the civil war of the early 1990s left the country with “no government with which the Fund could deal.”
Mohamud’s new government, which took office in September 2012, “has since enjoyed considerable support, including from the United Nations, the African Union, the European Union, the Organization of Islamic Cooperation, and many IMF member countries,” the IMF said.
Somalia however still owes some $352 million to the Fund, and so is currently ineligible for any new financing.