IMF and World Bank Announce US$4.5 billion in Debt Relief for Somalia – International Monetary Fund

December 13, 2023 WASHINGTON, DC:The Executive Boards of the International Monetary Fund (IMF) and the World Banks International Development Association (IDA) have approved[1] the Heavily Indebted Poor Countries (HIPC) Initiative Completion Point for Somalia, which provides total debt service savings for the country of US$4.5 billion.[2] Following HIPC Completion Point, Somalias external debt has fallen…

IMF, World Bank Grant $4.5B Debt Relief to Somalia – Mirage News

WASHINGTON, DC: The Executive Boards of the International Monetary Fund (IMF) and the World Bank’s International Development Association (IDA) have approved[1] the Heavily Indebted Poor Countries (HIPC) Initiative Completion Point for Somalia, which provides total debt service savings for the country of US$4.5 billion.[2] Following HIPC Completion Point, Somalia’s external debt has fallen from 64…