Somalia, Denmark sign debt forgiveness agreement

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Somalia, Denmark sign debt forgiveness agreement

[19/11/2024 01:07]

MOGADISHU-SABA
The Somali federal government and the government of Denmark signed a joint agreement in Mogadishu today, Tuesday, to forgive Somalia from debt to Denmark, in a move that reflects the success of financial reform efforts led by the national government.

According to the Somali National News Agency (SONNA) the agreement was signed by Somali Finance Minister Bihi Aggi and Danish Ambassador to Mogadishu Steen Son Andersen.

SONNA reported that this agreement follows negotiations conducted by Somalia with members of the Paris Club, which resulted in a decision in March 2024 to forgive the debts of many countries on Somalia, while obliging the federal government to negotiate with other creditor countries.

In a brief statement following the signing of the agreement, the finance minister said: "We thank the Danish government as a valuable friend who supports financial development in Somalia".