IMF / SOMALIA DEBT RELIEF

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25-Mar-2020 00:01:43
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) today thanked the leaders of Somalia for their sustained reform effort and congratulated the country on reaching the decision point under the Heavily Indebted Poor Countries (HIPC) Initiative, becoming the 37th country to receive such debt relief. IMF

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STORY: IMF / SOMALIA DEBT RELIEF
TRT: 1:43
SOURCE: IMF
RESTRICTIONS:NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 25 MARCH 2020, WASHINGTON DC

SHOTLIST:

RECENT – WASHINGTON DC

1.Vairous shots, Exterior IMF

25 MARCH 2020, WASHINGTON, DC

2. SOUNDBITE (English) Kristalina Georgieva, Managing Director, International Monetary Fund (IMF):

“My name is Kristalina Georgieva. I'm the Managing Director of the International Monetary Fund. But today I am proud to hold the title 'Friend of Somalia.' I want to congratulate each one of you on this momentous occasion. Your collective commitment to reforms has brought Somalia here to the HIPC decision point at a very difficult moment for the world. I recognize that what you have done has not been easy. Still, you persevered. The international community stands with you as you continue the journey to bring greater prosperity to all the people of Somalia. So let us pause briefly to recognize this historic moment. Let us reflect on this good news, during such difficult times and then let us remember, as Robert Frost once said, we still have miles to go before we sleep. We have work to do. At the IMF we look forward to continuing to support you on this journey. We wish you wholeheartedly all the success.”

RECENT – WASHINGTON DC

3. Various shots, Exterior IMF

STORYLINE:

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) today (25 Mar) thanked the leaders of Somalia for their sustained reform effort and congratulated the country on reaching the decision point under the Heavily Indebted Poor Countries (HIPC) Initiative, becoming the 37th country to receive such debt relief.

She said, “today I am proud to hold the title 'Friend of Somalia.' I want to congratulate each one of you on this momentous occasion. Your collective commitment to reforms has brought Somalia here to the HIPC decision point at a very difficult moment for the world.”

With the approval of the IMF’s and World Bank’s Executive Boards, the country will immediately receive interim relief on its external debt servicing, and its debt will be irrevocably reduced.

Georgieva said, “I recognize that what you have done has not been easy. Still, you persevered. The international community stands with you as you continue the journey to bring greater prosperity to all the people of Somalia.”

The HIPC decision point also means that Somalia will immediately normalize its relations with the international community, allowing it to regain access additional financial resources to help accelerate growth, improve social conditions, and raise millions of its population out of poverty.

She said, “let us pause briefly to recognize this historic moment. Let us reflect on this good news, during such difficult times and then let us remember, as Robert Frost once said, we still have miles to go before we sleep. We have work to do. At the IMF we look forward to continuing to support you on this journey. We wish you wholeheartedly all the success.”
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IMF
Alternate Title
unifeed200325e
Asset ID
2542042