First, the HIPC-CP determines the eligibility for full and irrevocable cancellation of about 90% of the $5.6 billion of Somalia’s external debt, committed at
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The Gulf Cooperation Council (GCC) region is estimated to grow by 1% in 2023 before picking up again to 3.6 and 3.7 % in 2024 and 2025, respectively, according to the recently published World Bank Gulf Economic Update (GEU) report. “The diversification efforts in the GCC region are paying off but more reforms are still needed,” said the report.