US Ambassador to Somalia Donald Yamamoto and Somalia's Minister of Finance Abdirahman Dualeh Beileh have signed a bilateral agreement spelling out ways of reducing and restructuring debt owed by the Horn country to three American State agencies.
Having reached the middle stage in its quest for debt cancellation in March this year, Somalia was declared as favoured by its donors for debt relief after implementing important milestones in its economic reform through the Heavily Indebted Poor Countries Initiative (HIPCI).
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