Intergovernmental Authority on Development’s Executive Secretary, Dr. Workneh Gebeyehu has on Thursday extended his heartfelt congratulations to Somalia for reaching the completion point of the debt relief initiative.
Gebeyehu in a statement, commended Somalia’s federal government’s dedicated efforts towards economic and social reforms.
He specifically applauded President Hassan Sheikh Mohamud’s exceptional leadership throughout this transformative process, which he said has yielded fruits to the economic development of the Horn of Africa Nation, which is reeling from decades of civil unrest and insurgency.
The Executive Secretary added that the success achieved over the past few years manifestly stands as a clear testament to Somalia’s resilience and unwavering commitment to social and economic development.
On the other hand, the European Union delegation in Somalia also joined other international partners in congratulating the Somali government and its people for achieving debt relief.
The EU expressed its unwavering commitment to continue supporting Somalia in different facets, including promoting economic reforms, while ensuring greater accountability through budget support.
The International Monetary Fund and the World Bank on Wednesday approved $4.5 billion in debt relief for Somalia after the East African nation successfully completed years of financial reforms under the Heavily Indebted Poor Countries Initiative, or HIPC.
Somalia is the 37th country to complete the HIPC process, which has been in place since 1996.
