Somalia creditors agree to cancel $2 billion of debt

NAIROBI: Somalia has secured an agreement with international creditors to cancel more than $2 billion (1.8 billion euros) in debt, the Paris Club of creditor nations said.
The deal announced Wednesday came after the International Monetary Fund and the World Bank in December approved $4.5 billion in debt relief for the troubled Horn of Africa nation.
Somalia is one of the poorest countries on the planet, enduring decades of civil war, a bloody insurgency by the Al-Qaeda linked jihadist group Al-Shabab, and frequent climate disasters.

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