Somalia hails AU’s decision towards debt cancellation
MOGADISHU, Somalia – The Federal Government of Somalia has welcomed the decision by the African Union to support Somalia and its people in the path towards debt cancellation.
Somalia’s peace and development goals are constrained by the debt burden that prevents it from accessing concessionary financing and normalizing relations with International Financial Institutions (IFIs).
The Federal Government is working hard to undertake fiscal and economic reforms to achieve debt relief and attain sustainable development.
The African Union’s decision mirrors the fundamental spirit of cooperation and support that exists within the AU fraternity.
Somalia appreciates the resounding solidarity the AU has shown in supporting Somalia’s quest.
As a founding member of the AU, Somalia is encouraged by the support and continues to enhance multilateral cooperation among all partners, including IFIs, that are assisting the Government in its quest for recovery.
Additionally, the Government of the Federal Republic of Somalia acknowledges the resolutions from the AU summit this year.
This year’s theme has been timely and essential for Africa and particularly, for Somalia.
Somalia appreciates the adoption of various reports including the Humanitarian Situation in Africa and the State of Peace and Security in Africa, among others.
The Federal Government of Somalia supports all efforts that seek to accelerate the implementation of continental initiatives for sustainable growth and development as stipulated in Agenda 2063, and in the vision towards Silencing the Gun by 2020.