NAIROBI - International Monetary Fund staff on Wednesday reached a preliminary agreement with Somalia that will allow for the release of $100 million in funding under a new 36-month credit programme, the fund said.
"However, despite the progress achieved, Somalia faces significant challenges ahead, including those stemming from economic, social, security, and climate risks," Laura Jaramillo, who headed a team that conducted a review on Somalia, said in a statement.
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