The World Bank has delivered an unprecedented stern warning to the Federal Government of Somalia regarding the lack of submission of audits for grants and
Somalia has remained on a strong economic reform path despite the various global and exogenous shocks that have continued to buffet the economy. Recurrent climate-related shocks, such as cycles of droughts, floods, locusts’ infestation, higher international commodity prices, as well as increased insecurity and conflict, have interrupted the country’s growth trajectory. However, this has not deterred the country’s commitment to continue advancing reforms to strengthen key economic institutions and promote macroeconomic stability and recovery. As a result, Somalia has continued to make progress toward meeting the conditions for achieving the heavily indebted poor country (HIPC) completion point in December 2023. Within the framework of resilience, the eighth edition of the World Bank’s Somalia economic update
Somalia on Wednesday secured a $4.5 billion debt relief deal with international creditors.The deal is part of the Heavily Indebted Poor Countries initiative, a debt forgiveness program overseen by the International Monetary Fund and World Bank.Somalia's current national debt exceeds $5 billion. Somalia on Wednesday secured a $4.5 billion debt relief deal from its international
UNOPS and Somalia s Ministry of Health to rehabilitate six regional hospitals - Somalia reliefweb.int - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reliefweb.int Daily Mail and Mail on Sunday newspapers.