The Ethiopian government’s growing reliance on foreign loans is posing a serious risk of economic collapse, a paper presented Friday by a renowned local economist says.
“Take for instance China, which has loaned over $17 billion to the Ethiopian government for infrastructure projects. Our total investment is 40 per cent of GDP. Our savings rate is between 10-20 per cent of GDP. We import $13 billion and export $3 billion. They (China) are the ones who are filling all these deficit gaps,” said Alemayehu Geda, economics professor at Addis Ababa University and London University. Continue reading Economist Warn Ethiopia’s Overstretched Economy Risks Collapse→
The minority regime in Ethiopia and its handlers have tried to hoodwink the Ethiopian people and the international community by misrepresenting facts about the country and its economy. With the western media in tow, Ethiopia’s leaders reported “double digit” economic growth in Ethiopia and labeled it “one of Africa’s top performing economies”. Continue reading Ethiopia: “Double Digit” Economic Growth – Reality Check→
ERITREA is aiming at creating a modern, private sector-led economy (Macro Policy 1994; National Indicative Development Plan 2014-2018). Attaining this objective is, however, compromised by an inadequately enabling investment and business environment, United Nations sanctions, and overall weak macroeconomic conditions.
Real GDP growth is projected to increase from 2.0% in 2014 to 2.1% in 2015, double the rate recorded in 2013, because of increasing investments in the mining sector. Over the medium term, the government sees further prospects in improved trade with Middle-Eastern and Asian countries, additional mining activities, the growth of the food sector and the development of the tourist industry. Continue reading Eritrea’s 2015 Economic Outlook→
JUST a few years ago, Ghana seemed to be one of Africa’s few good news stories. The country was on a path to paying back the international creditors it had relied on for decades, and was widely lauded for managing five peaceful and democratic transitions of power since 1992.