Iraq says is ready to forgive Somalia’s debt

Iraqi government has tabled a decision to forgive Somalia’s debts to Baghdad, director of the Horn of Africa and Sudan Department of the Arab League Zayd Saban confirmed.

Saban said that the Arab League had received an official memorandum from the Iraqi government notifying the League that it would cancel part of Somalia’s debts to Iraq.

The Arab official told MENA that the decisions issued by consecutive Arab summits have urged Arab countries to give priority to forgiving Somalia’s debts.

According to Somali figures, the total amount of Mogadishu’s debts towards Iraq was approximately 187 million US dollars, until December 2019.