Paris, SONNA – In a significant development for Somalia’s economic health, Finance Minister Bihi Egeh and his delegation successfully negotiated with the Paris Club, leading to a principal agreement for full debt cancellation. The minister expressed his gratitude on social media, stating: “After thorough negotiations in Paris today, I am grateful to the Paris Club creditors for principally agreeing to full debt cancellation for Somalia.”
This historic agreement paves the way for Somalia to bilaterally sign agreements with individual creditors, which will finalize the debt cancellation process. The move is seen as a major stride towards Somalia’s financial stability and growth, offering a brighter future for the nation’s economy.
