Debt Management Reports
Publication Corporate Author:
Debt Management Unit
Saturday, November 7, 2020
Somalia: Beyond Paris Club Traditional Debt Relief “Cologne Terms” and International Financial Institutions (IFIs) Arrears Clearance
Background and Structure of Somalia’s External Debt Somalia is a country emerging from devastations caused by a prolonged twenty- plus years of civil war that shattered the nation’s people, economy, institutional systems, and infrastructure. It is now slowly recovering as progress is being made in rebuilding the economy and important institutions to transition Somalia from fragility and to stability.