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The Saker
A bird's eye view of the vineyard

offsite link America?s Race Reality: Inhuman, Insane, Incoherent Sat Aug 15, 2020 00:56 | The Saker
by Ilana Mercer, published with the authorization of the author Racism is a lot of things. One thing it is not: A white child, aged five, executed by a black

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offsite link Statement by President of Russia Vladimir Putin on Russia?s proposal to convene meeting of heads of ... Fri Aug 14, 2020 18:39 | amarynth
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Human Rights in Ireland
A Blog About Human Rights

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Cedar Lounge
Ni dieu ni maître. Ni patrie, ni patron.

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Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link Some Thoughts on the Brexit Joint Report 11:50 Sat Dec 09, 2017

offsite link IRISH COMMONWEALTH: TRADE UNIONS AND CIVIL SOCIETY IN THE 21ST CENTURY 14:06 Sat Nov 18, 2017

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Dublin Opinion >>

President Trump Authorizes Somalia Debt Relief

category international | miscellaneous | press release author Saturday December 21, 2019 15:12author by Kate Zeller - Jubilee USA Network Report this post to the editors

President Trump signed a year-end spending bill which authorizes the first phase of debt relief for Somalia.

Washington DC - President Trump signed a year-end spending bill which authorizes the first phase of debt relief for Somalia. Earlier in the week Congress passed the spending package which included $35 million to begin paying the principle of $1.1 billion in US held Somalia debt.

"Relieving Somalia's debt could mean building new roads, women's empowerment, kids going back to school and moving forward measures to end extreme poverty," stated Eric LeCompte, the Executive Director of the religious development group Jubilee USA. Jubilee USA worked on debt relief for Somalia for the last two years.

On Wednesday, the International Monetary Fund announced it is organizing the cancellation of its share of Somalia debt which stands at around $140 million.

"We are seeing good progress from the United States Government and the IMF on Somalia debt relief," noted LeCompte who serves on United Nations debt expert groups. "Almost three-quarters of the Somalia population lives in extreme poverty and debt relief is desperately needed."

Somalia owes about $4.6 billion in debt. The United States is the largest creditor holding $1.1 billion in Somalia debt. The majority of the remainder of the debt is held by the International Monetary Fund, World Bank, France and Italy.

Related Link: http://www.jubileeusa.org
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