Debt Relief for Somalia

Introduction

 

Somalia is a post-conflict state showing steady economic growth. The country is facing pressing macroeconomic challenges, including: a high unemployment rate; massive inflation and price instability; exchange-rate volatility; and external shock, such as deficit in trade balance and heavy external debt. External debt has been a pressing matter in recent years and the Federal Government of Somalia has been cooperating effectively with the International Monetary Fund (IMF) and the World Bank Group to at least get rid of the debt burden. The debt-relief process was started by former finance minister Mohamed Aden Ibrahim (Farketi) under Hassan Sheikh Mohamud’s administration.

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Policy Brief : Debt Relief

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