EU contributes €1 million EUR to IMF Somalia Trust Fund
The EU has contributed €1 million EUR to the International Monetary Fund (IMF) Somalia Trust Fund as part of its long-standing commitment to support economic governance and capacity development in Somalia. The EU support will contribute to normalizing relations with the International Financial Institutions (IFIs) and lay the groundwork for an eventual resumption of their financial assistance. Somalia is currently ineligible to receive any IMF financial assistance given its $328 million in arrears with the Washington – based institution.
Fighting near north Somalia port town displaces 25,700: UN
Heavy fighting between pro-Islamic State (IS) militants and Somalia's Puntland state forces for the control of the port town of Qandala has displaced 25, 700 people since late October, a UN body said Wednesday.