Tag Archives: Ethiopia Debt

China Scales Back Investment in Ethiopia

Ethiopia’s economy pressured by rising debt and foreign exchange crisis

Reaching their limits. Chinese entities, which have loaned Ethiopia more than $13bn between 2006 and 2015 for everything from roads and railways to industrial parks, are now taking a “more cautious approach” in the face of a rising forex crisis and high government debt profile.

BY THE FINANCIAL TIMES

China is scaling back investment in Ethiopia in the face of rising foreign exchange shortages and government debt, highlighting the fragility of the African nation’s economy as the new prime minister prioritizes political reform to quell three years of deadly social unrest.  Continue reading China Scales Back Investment in Ethiopia

Ethiopia’s Debt Surged to US $23B

‘Double Digit’ growth my foot. With declining exports, chronic shortages of hard currency, an insatiable demand for imports, widening trade deficit, and a crushing foreign debt, the Ethiopian economy is heading to a crisis.

BY ESAT NEWS

Ethiopia’s debt has reached a whooping $23 billion while export earnings is in downward spiral coupled with the increase in payments to loans.

In an article published in Addis Admas, a weekly local Amharic published in Addis Ababa, the writer Yohannes S. also indicates that the country’s payment to interest on loans is skyrocketing. Continue reading Ethiopia’s Debt Surged to US $23B