“We are only good at starting projects but not completing on schedule” – PM Abiy BY ANDUALEM SISAY Ethiopian Prime Minister Abiy Ahmed has said his government needs $7.5 billion to complete ongoing mega infrastructure projects. He was speaking in Parliament after the tabling of the 346.9 billion Ethiopian birr ($12.8 billion) 2018/19 budget that […]
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A declining export, acute shortage of hard currency, an insatiable demand for imports, widening trade deficit and a crushing foreign debt of $40b causing the economy to nosedive. BY ESAT NEWS The serious shortage in foreign currency has stagnated the economy, the Governor of the Ethiopian National Bank says, as the country’s telecom fails to […]
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By Africa W, THE World Bank and the International Monetary Fund (IMF) were set up during the end of the World War II to rebuild the economies of Europe. However, in order for the world bank and the IMF to implement their policies, they began offering loans to poor countries but only if the poor […]
Continue Readingብ ተስፋኒውስ፡ መንግስቲ ኢትዮጲያ፡ እቲ ካብ ናይ ገንዘብ ማእከናት ዓለም፡ ብፍላይ ድማ ካብ ባንክ ዓለምን IMFን ፡ ከምኡውን ካብ ዝተፈላለዩ ናይ ፊናንሳዊ ትካላትን ባንክታትን ዝተለቅሖ ገንዘብ ልዕሊ 20 ቢሊዮን ዶላር ብምብጽሑ ፡ ነቲ ዕዳ ናይ ምኽፋል ዓቕሙ ኣብ ምልክት ሕቶ ስለዝኣተወን ፡ ተወሳኺ ለቓሕ ዝሕቡ ትካላትውን ስለዘይተረኽቡ ፡ ኣብታ ሃገር ኣብ ፈቐዶ ከባቢታት ተጀሚሮም ዘይተወደኡ […]
Continue ReadingBy Horn Affairs, THE total outstanding external debt surged from 5.6 Billion USD in 2009/10 to 14 Billion USD in 2013/14, according to the data Horn Affairs obtained from the Ministry of Finance and Economic Development. More than half of the amount is directly owed by Ministry of Finance, while the rest belongs to public enterprises. […]
Continue ReadingBy Magidu Nyende and Luka Okumu, ERITREA’S monetary policy has mainly been geared to accommodating the public fiscal deficits. Broad money supply increased sharply to 119% of GDP in 2011 and 2012. Due to exceptionally high deficits in the previous years, the authorities had to resort to central-bank financing. Credit supply to the private sector […]
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