TY - BOOK ID - 134195568 TI - Somalia: Request for an Extension of the Arrangement Under the Extended Credit Facility-Press Release; and Staff Report. PY - 2022 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Money and Monetary Policy KW - International Economics KW - Public Finance KW - Economic Development KW - Exports and Imports KW - Monetary Policy KW - International Agreements and Observance KW - International Organizations KW - National Government Expenditures and Related Policies: General KW - Development Planning and Policy: General KW - Foreign Aid KW - Monetary economics KW - International institutions KW - Public finance & taxation KW - Development economics & emerging economies KW - International economics KW - Monetary policy KW - International organization KW - Public financial management (PFM) KW - Development KW - Foreign aid KW - International agencies KW - Finance, Public KW - Economic development KW - International relief KW - Somalia UR - https://www.unicat.be/uniCat?func=search&query=sysid:134195568 AB - In the attached letter, the Somali authorities request an extension of the date on which the arrangement under the Extended Credit Facility (ECF) will automatically expire unless a review is completed to August 17, 2022. On March 25, 2020, the Executive Board approved Somalia’s HIPC Initiative Decision Point1 and a three-year arrangement under the ECF.2 The first review under the ECF arrangement was completed by the Executive Board on November 18, 2020.3 However, as no review has been completed since then, the ECF arrangement is set to automatically expire on May 17, 2022, in line with the rule on automatic expiration of ECF arrangements if no review has been completed for 18 months. Under Fund policy, the Board may decide to delay the automatic expiry of the arrangement by up to three months if staff and the authorities appear close to reaching understandings on targets and measures to put the ECF-supported program back on track. ER -