IMF grants recognition to Somalia government

IMF grants recognition to Somalia governmentGlobal financial institution, The International Monetary Fund has officially granted its recognition ot the government of the war ravaged nation of Somalia after having no relations with the country for more than two decades.

The recognition paves the way for the IMF to offer technical support and policy advice to the government of the improvised nation in the eastern African region. IMF has hinted that it will not offer any financial assistance to the country until it returns the $352 million loan to the institution. The authorities in Somalia are gradually trying to build the country after two decades of devastating civil war in the country.

The IMF said in a statement that, "The International Monetary Fund today recognised 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 decision is consistent with broad international support and recognition of the Federal Government."

International donors have started dealings with the government in Mogadishu following the election of President Mohamud in the previous year. Mohamud was elected in the first ever election in the country since warlords toppled military dictator Mohamed Siad Barre in 1991. Somalia has remained an IMF member since August 1962.