The Intergovernmental Authority on Development (IGAD) has welcomed the agreement reached by Somali leaders to pave wave for the delayed presidential and parliamentary elections.

The deal was penned in Mogadishu by Prime Minister Mohamed Hussein Roble, leaders of five federal member states and governor of Banadir Regional Administration, following four days of consultative talks on the electoral process.

"This swift breakthrough, reached after only 5 days of dialogue, underscores the political maturity of the Somali leaders, and the importance of consensus building, goodwill and compromise in settling political differences," IGAD said in a statement.

The eight-nation bloc urged stakeholders to commit to the agreement and refrain from any action that could undermine its implementation.

Thursday's deal came nearly four weeks after President Farmaajo tasked Roble with leading the Horn of African country's preparation for the delayed elections.

This was after Farmajo rescinded a decision to extend his mandate by two years, following an eruption of chaos in the capital Mogadishu, as government troops clashed with opposition forces.

The latest deal was also hailed by the United Kingdom as 'historic'.