Somalia’s Minister of Finance, Abdirahman Duale Bayle, held a press conference in Mogadishu on Tuesday, saying that they have discussed debt relief with Arab countries.
The finance minister said that Somalia owed $1 billion to Arab creditors. He added that Somalia incurred the majority of the debt between the 1960s and 1990s.
The minister said that he participated in a three-hour meeting with Arab governments to chart out a debt forgiveness path.
The conference was attended by the World Bank, the African Development Bank.
Minister Bayle said that he is confident that a deal will be reached.