Arab Monetary Fund provides $306.5m of debt relief to Somalia
Restructuring follows similar package offered by IMF
The Arab Monetary Fund (AMF) has signed a $306.5 million debt relief agreement with Somalia.
The country’s finance minister Bihi Egeh confirmed the agreement yesterday (April 9) in a post on social media. He said it was crucial to Somalia’s debt relief efforts and to its continued engagement with the AMF.
The regional organisation said in a statement on the same day that the agreement aimed to restructure Somalia’s debt to the AMF, which it said went back 40 years.
The AMF seeks to foster co
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