The Arab League has cancelled 75% of Somalia’s debts in what the Somali Ambassador to Egypt and Permanent Representative to the Arab League, Ali Abdi Aware, described as a ‘‘historic’’ achievement.
Ambassador Aware addressed the 164th session of the League’s Permanent Representatives on Tuesday in Cairo.
He expressed Somalia’s gratitude to the Arab League and its member states for supporting Mogadishu’s request to waive debts accumulated over 38 years in unpaid annual membership contributions.
The League approved the cancellation of 75% of these arrears, the Somali National News Agency reports.
