President Mohamed Farmaajo has expressed his joy at the debt relief status that his country now enjoys after earning approval from International Monetary Fund and World Bank.
The two Bretton Woods Institutions took the decision to welcome Somalia back to the fold after the East African country implemented several economic and political reforms.
President Farmaajo recognized the path of reforms and development that the country has been on for several years now.
Farmaajo said, “The debt relief decision that IDA, World Bank, and IMF took is a timely boost to our economy.”
He also reiterated that the newly acquired status is critical for the reforms the country has taken. Furthermore, he clarified that the country has more work to do.