Somalia ready to receive grants and debt relief in the nick of time
Somalia meets targets for good governance so it is in line to get a slice of IMF’s emergency aid
26 March 2020 - 16:53
Mogadishu — Shattered by decades of war, Somalia can finally look forward to rebuilding normal economic ties with the world after the IMF and World Bank announced it had taken the necessary steps to see most of its $5.2bn of external debt forgiven.
The decision announced on Wednesday allows the Horn of Africa nation to get badly needed grants from the World Bank and African Development Bank (AfDB) to combat a locust invasion and floods, and to strengthen its health system to face the coronavirus, said World Bank country representative Hugh Riddell...
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