MOGADISHU, Somalia – The United States has greatly welcomed the success of Somalia’s debt relief after being exempted from $4.5 billion and described it as an important step in the recovery of the country that has been in conflict and disorder for more than 30 years.
The cooperation between the governments of Somalia and the United States has played a crucial part in the debt relief announced by the World Bank and the International Monetary Fund, according to a statement released by the American Embassy in Mogadishu on its social media.
“The progress Somalia has made in governance, national institution building, and economic development is commendable. We look forward to continuing our support to Somalia to enhance its ability to serve its people,” the embassy said.
On the other hand, the IMF and the World Bank praised the government’s compliance with the terms of the debt relief, at a time when Somalia was facing problems such as the Covid-19 infection and security threats.
The President of Somalia, Hassan Sheikh, said that the efforts of the various governments in the country in the past 10 years have helped to reach this level, adding that they will do their best not to incur another debt, which will be a challenge to the next generation.
