Top Tweets for #Debt_Relief
#Somalia and the Arab Monetary Fund sign memorandum of understanding on #debt_relief totalling around $306.5 million. https://t.co/JTmrU134A5
#Somalia's finance ministry provides update on #debt_relief negotiations. Debt restructuring proposals presented by the Arab Monetary Fund are "incompatible with the HIPC framework and existing agreements with similarly ranked creditors." https://t.co/XuypKQA0tb
Status of #Somalia's #debt_relief negotiations:"In terms of bilateral agreements, such an agreement has been signed with UK, US, Norway, Netherlands, Denmark. The gov. of Japan, France, Russia, Spain have shared their draft agreements, which are at different stages of processing"
"We acknowledge the importance of the on-going discussions with the IMF, World Bank and G20 Credit Committee, to support a major package of economic reform with substantial #debt_relief and adequate external financing."
#IMF approves the #HIPC Initiative Completion Point for #Somalia, providing additional #debt_relief of $4.5 billion. Following HIPC Completion Point, 🇸🇴 #external_debt has fallen from 64 percent of GDP in 2018 to less than 6 percent of GDP by end 2023. https://t.co/Bd1GkZdPS3
Tomorrow #Somalia will complete HIPC #debt_relief. A huge success for 🇸🇴 that will improve economic prospects. In just six months (June 2024), #Sudan was supposed to achieved the same. Coup and war prevented success. Instead of economic recovery, parts of 🇸🇩 are in ruins.
#IMF executive board will approve HIPC completion point for #Somalia on Dec. 13, which will mark the completion of 🇸🇴 #debt_relief. In addition, the executive board will approve the 6th review of 🇸🇴 ECF programme and make a decision about Mogadishu's request for a new programme.
In addition to #debt_relief, #Somalia's president also expects lifting of #arms_embargo next month, provided 🇸🇴parliament passes the necessary legislation. Arms embargo lifting would enable🇸🇴 to acquire various caliber of weapons from different countries
https://t.co/GaQOCmWFwI
In addition to #debt_relief, #Somalia's president also expects lifting of #arms_embargo next month, provided 🇸🇴parliament passes the necessary legislation. Arms embargo lifting would enable🇸🇴 to acquire various caliber of weapons from different countries. https://t.co/dkZf3nHjpG
At #UNGA, #Ethiopia's foreign minister calls for reform of the UN and UNSC. International financial institutions should support developing countries in taking #debt_relief measures and provide development finance. He called for coordinated efforts for peace initiatives in #Sudan.
Five #MPs submitted a draft law calling for a #debt_relief for #Kuwaiti citizens, basically based on forgiving the interest rates on bank loans. The bill stipulates that banks and financial companies under the supervision of the central bank will reschedule loans for Kuwaiti citizens until January 31, 2021. The loans will then be repaid in instalments over a period of 12 years, including a two-year grace period, but without the incurring interest rates which will be forgiven against the interest on government deposits in local banks. The main aim of the bill is to relieve debtors of high interest rates on their loans.
#Russia grants #debt_relief to #Somalia. Another step towards full #HIPC debt relief expected by the end of 2023.
Signed a debt relief agreements with the Govt of #Russia represented by the Deputy Finance Minister, Timur Maksimov. The signing of this agreements — just over $ 684 million and 7.5 blocked funds—will accelerate 🇸🇴’s efforts to reach the HIPC Completion Point in a timely manner
#Somalia's foreign minister @abshirhuruse discusses lifting of #arms_embargo and #debt_relief with his 🇷🇺counterpart. A memorandum of understanding on political consultations was also signed. President @HassanSMohamud will attend the #Russia Africa Summit
https://t.co/TcvwIgDUTz
#Somalia's foreign minister @abshirhuruse discusses lifting of #arms_embargo and #debt_relief with his 🇷🇺counterpart. A memorandum of understanding on political consultations was also signed. President @HassanSMohamud will attend the #Russia Africa Summit. https://t.co/dq9zYCZPMD
#Somalia has signed #debt_relief agreements with all #ParisClub members except #Russia, whith whom 🇸🇴 is in negotiations on an agreement. Negotiations are advanced with the #Saudi Fund and the #Abu_Dhabi Fund.
#IMF publishes report on 5th review of #Somalia's ECF arrangement, downgrades 2023 GDP growth by 0.3 percentage points to 2.8%, citing disappointing rains in 2022Q4 and subdued remittances. HIPC #debt_relief "feasible by 2023Q4". https://t.co/54xybBu4Lf
#IMF executive board completes 5th review of #Somalia's extended credit facility. "Program performance has been broadly satisfactory and the HIPC Completion Point [#debt_relief] appears achievable by 2023Q4." https://t.co/VVbGfCATwY
Yesterday I signed an agreement which reschedules #Somalia’s arrears with the @SaudiFund_Dev. This is a key requirement for the debt relief process & accessing projects. We are grateful to the Saudi Fund for working closely with @MoF_Somalia to push our economic reforms forward.
#IMF staff completes fifth review of #Somalia's Extended Credit Facility arrangement. Achieving HIPC completion point #debt_relief "appears achievable by 2023 Q4." Implementation of reform strategy depends on timely support from development partners. https://t.co/Vzq4fN6d2B
Representatives of the government of #Somalia and @WorldBank started the fifth #debt_relief meeting in Nairobi on Friday. Opportunities for increasing revenue, improving public financial management and good governance were discussed.
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