In the wake of Trump’s electoral triumph, the United States has extended more than $1 billion in debt relief to Somalia.

U.S. Approves Over a Billion Dollars for Somalia’s Debt Forgiveness as Trump Wins Election

MOGADISHU, Somalia – In a move cloaked under the shadow of Donald Trump’s electoral triumph, the United States endorsed a hefty $1.14 billion debt relief package for Somalia. This development follows the East African nation’s rigorous economic and financial reforms.

This financial respite, officials disclosed, intends to bolster Somalia’s pivotal economic transformations, paving the way for essential socio-economic progress in a nation long plagued by turmoil.

The announcement, unveiled on a Tuesday, saw Somali Finance Minister Bihi Egeh and US Ambassador Richard Riley cementing the accord in Mogadishu.

“Today, the United States government pardoned over $1.14 billion of American debt,” Egeh broadcasted on social media platform X, attributing this debt relief to the momentum garnered from recent negotiations and the March Paris Club agreement.

Egeh conveyed his gratitude, commenting, “I extend my thanks to the U.S. government and its citizens for their steadfast backing of our economic overhaul and expansion.”

U.S. Ambassador Riley noted that this debt amnesty complements America’s extensive contributions to Somalia, which includes another $1.2 billion dedicated to development, economy, security enhancements, and humanitarian aid for the current fiscal year. “The United States remains a loyal ally to Somalis,” Riley emphasized.

Back in December 2023, Somalia achieved a milestone of securing $4.5 billion in debt relief, having reached the Completion Point in line with the guidelines of the World Bank and IMF’s Heavily Indebted Poor Countries Initiative—an initiative designed to align debt with sustainable levels.

The US plays a pivotal role in ensuring Somalia’s security and development, notably investing in the empowerment of the Somali National Army. Back in 2021, Trump commanded the removal of US troops from Somali soil. It remains uncertain whether he plans to reinstate them once in office by 2025.

AXADLETM