The International Monetary Fund on Friday recognised the government of Somalia after a 22-year hiatus.
“The decision is consistent with broad international support and recognition of the federal government (which) allows the IMF to offer Somalia technical assistance and policy advice,” the IMF said.
The country will still not be able to borrow from the fund, due to its outstanding debts of about 352 million dollars, the IMF said.
With the installation of a government in September under the leadership of President Hassan Sheikh Mohamud, the barriers to cooperation from the fund were removed, the IMF said.
Somalia has been a member of the IMF since 1962, but was in chaos starting in the early 1990s amid civil war and lack of a government.