Alongside cuts in foreign aid, climate shocks will impact the country’s economy this year, says the International Monetary Fund, following a meeting to discuss a new financial disbursement.
Browsing: somália
According to the IMF, recovery was supported by the 2022 peace agreement in Ethiopia, which generated a significant expansion in port activities, train traffic, construction, and energy production.
The institutions announced a USD 4.5 billion debt relief for the North African country in a joint statement. The IMF approved another disbursement of USD 9.3 million and is considering a three-year credit arrangement worth USD 100 million.
The food and beverages trade show that takes place in Dubai ended on Friday (24). Brazilian businesspeople mentioned the high number of visitors and the diversity of countries looking for business.
The Arab country in Africa will carry out a project in partnership with the World Bank to revive its electricity supply industry. One of the key priorities is access to affordable energy.
Brazil-based Milagros founder has visited regions that work with resin extraction in Somalia and Oman. The brand sells over 20 types of incense.
Over the millennia, frankincense has been a symbol of Arab countries like Oman and an economic mainstay of farmers in Somalia and Sudan. The sap is the raw material of incense, but its trees are endangered due to the overexploitation.
The Minister of Labor and Social Affairs of Somalia asked all humanitarian aid organizations to enhance activities to address the repercussions of the drought in the country.
After a 3.1% growth last year, the Arab country GDP is expected to grow 3.5% this year, according to IMF. Better weather conditions for agricultural production will help.
Ana Clara Sampaio’s ‘Finally, Direct Speeches’ is a compilation of texts by young Muslims and non-Muslims from 15 countries, out on Fambras and available free of charge as an e-book.
UN reported this Tuesday (19) that 68.5 million people have been displaced from their home until the end of 2017.
