Business Standard

IMF says members pledged USD 334 mn in debt relief for Somalia

Image

AFP Washington
More than 100 IMF members have pledged to provide USD 334 million in debt relief for Somalia, which then will unlock fresh funds to help the country, the International Monetary Fund announced Wednesday.
The debt relief will clear the arrears the government has with the IMF, the statement said.
IMF Managing Director Kristalina Georgieva said with financing pledged, the African nation is one step closer to the final step "which will significantly reduce Somalia's total debt and enable access to new resources to jumpstart growth and begin reducing poverty.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 26 2020 | 10:02 PM IST

Explore News