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IMF Completes Third Review of Somalia's Economic Reform Program Washington D.C. (AX) — Recently, the Executive Board of the International Monetary Fund (IMF) concluded its third review of Somalia’s economic reform program under the Extended Credit Facility (ECF) arrangement. This review is a significant milestone that unlocks an immediate disbursement of approximately US $10 million to bolster Somalia’s ongoing economic reforms. To put that into perspective, this latest disbursement, which amounts to SDR 7.5 million,…

Elon Musk has taken a firm stance against US President Donald Trump's proposed spending bill, labeling it a "disgusting abomination" as tensions between the two figures come to the forefront following Musk's departure from the White House. Last week, Musk exited his position as an official government employee, a role in which he was previously commended by Trump for initiating federal spending cuts. Yet, cracks in their relationship have begun to show. In a pointed tweet, Musk declared, "This massive, outrageous,…

The Republican-led U.S. House of Representatives has passed a significant tax relief and spending cuts bill championed by President Donald Trump. Critics have raised concerns that it could severely impact healthcare while significantly increasing the national debt. This legislation, which now heads to the Senate, reflects Trump's vision for a new "Golden Age." It proposes to scale back social safety net programs to facilitate a ten-year extension of the tax cuts initiated in 2017. In a post on Truth Social, Trump…

In a significant move, President Joe Biden has unveiled over $8 billion in military aid aimed at assisting Ukraine in its struggle against Russian aggression. This announcement coincided with a visit from Ukrainian President Volodymyr Zelensky, marking a pivotal moment in the U.S.'s commitment to supporting Ukraine's defense efforts. The package features the debut shipment of a precision-guided glide bomb, known as the Joint Standoff Weapon (JSOW), which boasts an impressive range of up to 130 kilometers. This medium-range…