“Italy is ready to write off debt” owed by Somalia

[Deeq A.]

The debt relief agenda of the Federal Government of Somalia has been shrouded in mystery. Following the cabinet endorsement of  the initiative to secure a bridging loan from Norway, Italy has pledged that it would write off the debt Somalia owes Rome.

According to the daily news website Africa Express, the Italian Foreign Minister, Luigi Di Maio, who attended the 74^th United Nations General Assembly last year, said “Italy will write off  the debt owed by Somalia as soon technical details of the issue are hammered out”.

New York: The Somali Finance Minister having a  conversation with Italian Foreign Minister

Yesterday the Somali National News Agency reported Italy and United Kingdom will “pay off the debt Somalia owes.”

The debt relief is a milestone the Somali Federal Government views as necessary political capital ahead of 2021 elections.

© Puntland Post Monthly, 2020   

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