MOGADISHU — Somalia has secured debt cancellation worth €591,707.17 (approximately $676,700) after the Council of Ministers of the Organisation of African, Caribbean and Pacific States (OACPS) approved the waiver of the country’s outstanding financial obligations to the organisation.
The decision marks another step in Somalia’s ongoing efforts to reduce financial pressures and strengthen its engagement with international institutions. Somali officials said the debt relief reflects the spirit of cooperation, partnership and solidarity among OACPS member states.
Somalia’s Ambassador to Belgium, the Netherlands and the European Union, Khadija Osoble Ali, welcomed the decision, describing it as an important expression of mutual support and shared responsibility within the OACPS framework.
The cancellation of the outstanding payments is expected to improve Somalia’s financial position within the organisation and allow the country to participate more effectively in future OACPS programmes focused on development, trade, governance and international cooperation.
The OACPS, established in 1975 through the Lomé Convention, is an international organisation that brings together 79 countries across Africa, the Caribbean and the Pacific. It works to promote sustainable development, economic cooperation, democratic governance, environmental protection and stronger global partnerships.
Somalia’s government said the financial relief will help redirect resources toward key national priorities, including economic recovery, strengthening public services, reconciliation efforts, institution-building and development programmes.
The move comes as Somalia continues implementing major economic reforms following its achievement of broader international debt relief milestones and efforts to strengthen its financial management systems.
Officials said improved relations with organisations such as the OACPS will help Somalia expand development partnerships, attract investment and support long-term economic growth and stability.
The debt cancellation also highlights Somalia’s growing reintegration into international financial and diplomatic frameworks after years of economic challenges, as the country continues rebuilding its institutions and pursuing sustainable development.
