The business community in the Horn of Africa has welcomed the move by the World Bank and the International Monetary Fund to offer debt relief to Somalia. “The US dollars 4.5 million debt relief from the World Bank and IMF will strengthen the economy, promote job creation and attract investment,” said Dahabshiil in a statement. As Dahabshiil, we have invested sustainably in many countries on the continent and we welcome this move by the IMF and World Bank. Thanks to this, we will now play a big role in the economic growth of the region and the continent.”The International Monetary Fund (IMF) and the World Bank’s International Development Association (IDA) approved the debt relief on Wednesday. With the debt relief, it is hoped that the environment will be more conducive to investment and growth, of course fuelled by diaspora remittances.

Source: Daily Nation December 16, 2023 10:49 UTC