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Italy joins Somalia’s debt forgiveness process

Mogadishu (SD) – Somali Minister of Finance Dr. Abdirahman Duale Beyleh today signed an agreement in Mogadishu with Italian Ambassador to Somalia Alberto Vecchi on Somalia’s debt forgiveness process.

The agreement follows the Paris Club’s decision to forgive Somalia $ 1.4 billion in debt in 2020.

“I thank the Italian Ambassador to Somalia, Mr. Alberto Vecchi, who worked with us on the signing today, making it possible for us to do this” said minister Beyleh.

The Italian government is accused of failing to play a leading role in healing the colonization effects and the country’s recovery from the subsequent political crisis.

The Somali government is making great strides in terms of debt relief with the help of the international financial institutions, the IMF and the World Bank.

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