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Us Cancels 1.1bn Of Somalias Debt In Historic Financial Agreement

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us cancels 11bn of somalias debt in historic financial agreement
Commitment by Mogadishus largest single lender is latest in series of deals to forgive unsustainable 4.5bn debt Somalia has announced that more than 1.1bn 860m of outstanding loans will be cancelled by the US, a sum representing about a quarter of the countrys remaining debt. The announcement is the latest in a series of agreements in which Somalias creditors have committed to forgiving its debt obligations.
 
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