Somalia Seeks Cancellation of Debts
May 02, 2014
The Somali government has called on its creditors to cancel billions of dollars of the country's debts, Somalia's Horseed Media reported Thursday (May 1st).
"Somalia's need for very substantial debt relief derives from the economic realities facing a post-conflict country," said Beyle, adding that debt forgiveness would also provide other countries with "long-term benefit, by offering them increased investment opportunities once the shackles on the country's political and economic development are removed".
Discussions in Tunis focused on ways in which the AfDB could implement development projects to help boost the Somalia economy.
Also on Tuesday, Beyle met with his Tunisian counterpart Mongi Hamdi to discuss the restoration of diplomatic relations between the two countries, Radio Mogadishu reported.
Beyle requested the Tunisian government to send a team of experts to Mogadishu and invest and take part in Somalia's reconstruction processes. For his part, Hamdi said the Somali dignitaries' visit was historic, allowing for restored diplomatic ties between the two countries after more than two decades.
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| Map of Somalia and the Horn of Africa where US imperialism maintains a strong military and intelligence presence. |
The Somali government has called on its creditors to cancel billions of dollars of the country's debts, Somalia's Horseed Media reported Thursday (May 1st).
"Somalia's need for very substantial debt relief derives from the economic realities facing a post-conflict country," said Beyle, adding that debt forgiveness would also provide other countries with "long-term benefit, by offering them increased investment opportunities once the shackles on the country's political and economic development are removed".
Discussions in Tunis focused on ways in which the AfDB could implement development projects to help boost the Somalia economy.
Also on Tuesday, Beyle met with his Tunisian counterpart Mongi Hamdi to discuss the restoration of diplomatic relations between the two countries, Radio Mogadishu reported.
Beyle requested the Tunisian government to send a team of experts to Mogadishu and invest and take part in Somalia's reconstruction processes. For his part, Hamdi said the Somali dignitaries' visit was historic, allowing for restored diplomatic ties between the two countries after more than two decades.
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