IMF executive board to meet Dec. 13 to discuss Somalia’s debt relief

(Reuters) – The International Monetary Fund’s executive board will meet on Dec. 13 to discuss debt relief for Somalia, the Fund´s spokesperson Julie Kozack told a press conference on Thursday.

This would be an “upcoming milestone” for the country, Kozack said, adding that the consideration would be under the heavily indebted poor countries initiative, known as HIPIC.

Kozack said the World Bank executive board would meet the day before on the same issue.

The country and IMF staff reached a staff-level agreement in November for a 36-month arrangement of about $100 million under the Extended Credit Facility (ECF).

(Reporting by Jorgelina do Rosario and Rodrigo Campos; Editing by Chizu Nomiyama)