Somalia debts Stories

Somalia hopes for positive strides in 2025 as country moves away from troubled past
Somalia hopes for positive strides in 2025 as country moves away from troubled past
Hassan Mohamed  |  Jan 04, 2025

Relief for Somalia as Russia announces cancellation of $48.1 million debt
Relief for Somalia as Russia announces cancellation of $48.1 million debt
Abdirahman Khalif  |  Dec 21, 2024

With international cooperation and a commitment to reforms, Somalia is poised to rebuild its economy and improve the lives of its citizens.

US agrees to write off more than $1.1 billion of Somalia's debt
US agrees to write off more than $1.1 billion of Somalia's debt
Amina Wako  |  Nov 08, 2024

In December 2023, Somalia announced its completion of the HIPC programme, qualifying for $4.5 billion in debt relief.

Somalia secures agreement to settle $36 million debt with OPEC Fund
Somalia secures agreement to settle $36 million debt with OPEC Fund
Vincent Ombati  |  Jun 27, 2024

The Saudi Finance Minister highlighted the Kingdom's efforts to boost non-oil revenues and diversify its economy as part of Saudi Vision 2030 through...

UK cancels 100 per cent of Somalia's debt, boosting economic recovery
UK cancels 100 per cent of Somalia's debt, boosting economic recovery
Amina Wako  |  Apr 09, 2024

The Paris Club expressed its satisfaction with Somalia's determination to implement a comprehensive poverty reduction strategy and an ambitious econom...

Stay ahead of the news! Click ‘Yes, Thanks’ to receive breaking stories and exclusive updates directly to your device. Be the first to know what’s happening.