Somalia secures $4.5 billion debt relief deal with international creditors

The deal comes as part of a debt forgiveness program —called the Heavily Indebted Poor Countries initiative— overseen by the IMF and the World Bank. As a result of its participation in the program, Somalia’s external debt will fall from 64% of GDP in 2018 to less than 6% of GDP by the end of 2023.

Somalia secures $4.5 billion debt relief deal with international creditors More