{"id":359123,"date":"2023-12-13T19:51:45","date_gmt":"2023-12-13T22:51:45","guid":{"rendered":"https:\/\/anba.com.br\/world-bank-imf-relieve-somalias-debt\/"},"modified":"2024-03-22T17:09:19","modified_gmt":"2024-03-22T20:09:19","slug":"world-bank-imf-relieve-somalias-debt","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/world-bank-imf-relieve-somalias-debt\/","title":{"rendered":"World Bank, IMF relieve Somalia\u2019s debt"},"content":{"rendered":"<p>S\u00e3o Paulo \u2013 The World Bank and the International Monetary Fund (IMF) announced this Wednesday (13), in Washington D.C., a USD 4.5 billion debt relief for Somalia. These debt savings are part of the Heavily Indebted Poor Countries (HIPC) program, which relieves nations of up to 100% of their debt with the IMF, the World Bank, and the African Development Fund (ADF). In the case of Somalia, according to the institutions\u2019 statement, the country\u2019s debt was reduced from the equivalent of 64% of its Gross Domestic Product (GDP) to 6% of this year\u2019s GDP <em>(pictured above, the Somali capital, Mogadishu).<\/em><\/p>\n<p>In the release, the president of Somalia, Hassan Sheikh Mohamud, said the debt relief results from reforms implemented in the economy. \u201cSomalia\u2019s debt relief process has been nearly a decade of cross-governmental efforts spanning three political administrations,\u201d he said.<\/p>\n<p>In another statement about the country, the IMF said it had completed the sixth and final review of its Extended Credit Facility (ECF), a program that guarantees financial assistance to low-income countries with payment balance issues. Under this program, the Fund disbursed the equivalent of USD 9.3 million to Somalia and said it is considering a new three-year arrangement for a total of USD 100 million.<\/p>\n<p>IMF\u2019s deputy managing director and acting chair, Antoinette Sayeh, noted local authorities were committed to implementing reforms, rebuilding the Somali economy, and overcoming the challenges the country is facing, including climate, economic, social, and security risks.<\/p>\n<p><strong>Translated by El\u00fasio Brasileiro<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The institutions announced a USD 4.5 billion debt relief for the North African country in a joint statement. The IMF approved another disbursement of USD 9.3 million and is considering a three-year credit arrangement worth USD 100 million.<\/p>\n","protected":false},"author":2316,"featured_media":357673,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[28304,46980,74,5194,9336,28576,1988,14558,29285,2223],"class_list":{"0":"post-359123","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-africa-en-2","9":"tag-alivio","10":"tag-banco-mundial","11":"tag-debt","12":"tag-divida","13":"tag-fmi-en-2","14":"tag-imf","15":"tag-relief","16":"tag-somalia-en-2","17":"tag-world-bank"},"wps_subtitle":"The institutions announced a USD 4.5 billion debt relief for the North African country in a joint statement. The IMF approved another disbursement of USD 9.3 million and is considering a three-year credit arrangement worth USD 100 million.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/359123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=359123"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/359123\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/357673"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=359123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=359123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=359123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}