The Minister of Finance of the Federal Government of Somalia, Mr. Biihi Imaan Ige, held a meeting with some of the ambassadors and representatives of donor countries in Nairobi on Friday.
The meeting focused on the development of Somalia’s financial sector and the implementation of the debt relief plan, which is nearing completion. The minister thanked the donors for their support and cooperation with Somalia and discussed how to enhance the partnership after the debt relief process is finalized.
Somalia has been working to achieve debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative, which would unlock new sources of financing and reduce its debt burden. The country reached the decision point in March 2020 and is expected to reach the completion point by early 2024.
