The Russian and Somali governments have signed an agreement on the settlement of the African country's debt to Moscow, according to a document dated December 10, which was recently published by the Russian government.
According to the text of the agreement, the amount with interest accumulated on long-term loans provided by the Soviet government to Somalia until October 1, 1984, will be written off. As stated in a list attached to the agreement, the amount of this debt is $48.1 million.
"100% of the said amount will be consolidated in accordance with this agreement," the document says. "The Government of the Federal Republic of Somalia shall be exempt from repayment of 100% of the consolidated amount."
Now, taking into account Mogadishu's exemption from payments on Soviet loans, this schedule is adjusted, and the entire remaining debt will be paid by April 2028.