Somalia Secures $4.5 Billion Debt Relief Deal

Somalia secured a $4.5 billion debt relief deal from its international creditors, allowing the Horn of Africa nation to develop economically and start new projects. Somlia’s debt will fall from 64% of of gross domestic product in 2018 to under 6% of GDP by the end of 2023. Marina Zucker Marques, a researcher at SOAS University in London and project Debt Relief for a Green and Inclusive Recovery, tells VOA's Carol Van Dam similar deals may not be offered to other African countries, as Somalia’s debt relief has been in progress for several years.