Somaliland, Somalia Can Share Benefits of Debt Relief Package – SONSAF

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The Somaliland Non-State Actors Forum (SONSAF), today, released a statement which urges international development actors not to confine the benefits of expected debt relief packages to Somalia alone.

The Forum called on Somaliland to deeply study all the consequences of an international debt relief to Somalia including both positive and negative aspects.

“SONSAF understands that there is an opportunity to set out an ambitious agenda for Somaliland to analyse and study both the potential significance and consequences of debt relief for Somalia,” the statement said.

“Such a deep analysis helps to make evidence-based decisions about the potential positive impact of the debt relief as well studying the wider ramifications it would potentially have to the public, private sector and overall civilians of Somaliland,” it said.

SONSAF points out that if debt relief goes to Somalia alone its is more than likely that Somalia would use the benefits adversely against Somaliland impacting on the peace, stability and development prospects of the country.

“We emphasise the importance of maintaining the momentum of debt relief in all aspects, including the negative impact to Somaliland’s great deal of effort to peace and democracy,” SONSAF added.

SONSAF – departing from its traditional stand, made it clear that there was room for the Forum to quite actively advocating for a speedy relief process of debts incurred but along the context proposed for benefits to both countries since, understandably, Somalia entered into debts in a manner that did not specifically exclude Somaliland of the MOUs signed.

“To this effect, SONSAF offers its support to advocate that both Somaliland and Somalia have the incentives to cooperate on sharing the benefits of debt relief packages under discussion with the bilateral creditors and the International Financial Institutions,” the statement said.

The complete statement came out as below:

 

 

 

 

 

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