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PARIS CLUB CANCELS SOMALIA’S DEBT OF $1.4 BILLION


The Paris Club has agreed to cancel the 1.4 billion dollars debt owed by Somalia.

 

The country’s Finance Minister, ABDIRAHMAN BEILEH, welcomed the decision to relieve two-thirds of its external debt.

 

The decision would enable the country to seek new sources of finance to help it recover from three decades of ongoing civil conflict.

 

 

He said Somalia would continue the economic reforms which helped to clinch the deal.

 

 

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