Somalia's entry into the East African Community (EAC); A Pathway to Progress, Peace and Development

[Deeq A.]

Somalia’s recent admission into the East African Community (EAC) marks a transformative step for its journey towards political stability and economic development indicating a promising era of increased opportunity and regional integration. According to recent reports from the IMF and World Bank, Somalia has made significant progress in economic reform and governance. This resulted in significant debt relief, decreasing its burden from $5.2 billion to a more manageable amount ($0.6 billion) under the Heavily Indebted Poor Countries (HIPC) initiative. This development not only represents a reduction in economic burden but also a strong commitment to systematic structural changes and responsible governance.

Source: Hiiraan Online