Bulgaria Join in the IMF's Somalia Debt Fundraising Initiative

The Council of Ministers approved the participation of the Republic of Bulgaria in the International Monetary Fund (IMF) initiative to raise funds to settle Somalia's debt to the IMF, amounting to EUR 242 million.

The amount with which Bulgaria will join is amounting to 1.48 million SDR (special drawing rights)

The IMF initiative will reduce the external debt burdens of the most heavily indebted poor countries under the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI).

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