Somalia Reaches Historic Debt Relief Milestone, But Faces Ongoing Challenges to Sustain Growth
-
Somalia has finally achieved debt relief after a long and difficult journey, removing a huge economic burden.
-
The debt relief process forced Somalia to implement major economic reforms and rebuild state institutions and capacity.
-
Achieving debt sustainability and preventing a return to debt distress remains a major challenge for Somalia.
-
Somalia aims to grow its economy by utilizing its strategic assets and attracting investment in key sectors.
-
More financing is needed globally to help fragile states like Somalia address issues like terrorism and climate change.