This second VNR reflects Somalia’s continued efforts to institutionalise evidence-based policymaking, strengthen national ownership of development processes, and align long-term national aspirations with the 2030 Agenda for Sustainable Development. The review provides an important opportunity to assess progress achieved since 2022, identify persistent gaps and constraints, share lessons learned and reaffirm the country’s commitment towards accelerating SDG implementation through nationally led priorities, institutional reforms, and strategic partnerships.

Since the submission of the first VNR in 2022, Somalia has also recorded important macroeconomic, institutional and governance milestones that have strengthened the country’s development prospects and reform momentum. Most notably, Somalia achieved the Completion Point under the Heavily Indebted Poor Countries (HIPC) Initiative in December 2023, securing approximately US$4.5 billion in debt relief and substantially reducing the country’s external debt burden from approximately 64 per cent of GDP in 2018 to below 6 per cent by the end of 20235 . This historic milestone significantly improved Somalia’s fiscal sustainability restored international financial credibility, enhanced investor confidence and expanded opportunities for development financing and economic reform.