Somalia: France Waives U.S.$306 Million Debt Owed By Somalia

The French government has pardoned the Somali government for $ 306 million following an agreement reached in Mogadishu on Thursday.

The agreement was signed in Mogadishu by the Minister of Finance of the Federal Government of Somalia Dr. Abdirahman Duale and the French Ambassador to Somalia and Kenya Aline Ménager.

Dr. Abdirahman Duale Beileh, Somalia’s Minister of Finance, spoke to the national media after the signing of the agreement and explained the importance of the agreement.

“It was an honour to sign the agreement on the reorganization of debts between Somalia and France with the French ambassador to Somalia and Kenya Aline Ménager,”

The finance minister added that the remaining funds have been agreed to be pardoned if Somalia will not take debt the coming three years.

Somalia’s debt has been forgiven by international countries and financial institutions and France’s move to pardon Somalia comes as a result of financial reforms and Somalia’s success in debt relief talk

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