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IMF extends budget support for Somalia to August

Somalia's lawmakers elected former leader Hassan Sheikh Mohamud on May 15, 2022, as the new president. [Reuters]

The International Monetary Fund has prolonged support for Somalia under its Extended Credit Facility to Aug. 17, giving itself time to consult with an incoming government, the lender said on Friday.

The move follows the election of a new president on Sunday and a request from the Somali government early this month for a three-month extension in financial support.

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