Wednesday 1 April 2020
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theguardian - 6 days ago

Debt relief allows Somalia to rejoin global economy after 30-year exile

IMF and World Bank sign off $5bn in assistance with help of bridge financing from Norway, Italy, the UK and the EUSomalia’s debt will be slashed to a fraction of its current levels after almost $5bn (£4.1bn) of assistance was approved by the International Monetary Fund and World Bank.A joint statement from the global financial institutions praised Somalia’s efforts at economic reform, allowing it to qualify for a debt relief programme and reintegrate into the global economy after 30 years. Continue reading...


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