Arrears on loans owed by Somalia to the African Development Bank Group have been cleared following the payment in full of $122.55 million by the governments of the United Kingdom and the European Union, marking the end of sanctions and the resumption of full re-engagement between the Bank Group and the East African nation.
The long road to resolution of Somalia’s debt arrears began in 2014 and included the completion of three Staff Monitored Programs of the International Monetary Fund, and significant advances on a fourth program. […]
Read More
Beta
