Thursday April 10, 2025
Mogadishu (HOL) — Somalia has signed a $306.5 million debt relief agreement with the Arab Monetary Fund, marking a major step in its efforts to recover from decades of conflict and rejoin the global financial system.
The agreement, signed Wednesday in Kuwait, restructures Somalia’s debt with the Abu Dhabi-based fund, which supports financial stability and economic growth across Arab nations. Specific terms of the restructuring were not disclosed.
Finance Minister Bihi Iman Egeh, who led the Somali delegation to Kuwait, said the agreement was essential to advancing Somalia’s economic recovery and strengthening ties with regional financial institutions.
“This agreement is fundamental to re-engagement with the…
