Tag Archives: Trade Deficit

Ethiopia’s Debt Surged to US $23B

Ethiopia debt reaches critical level
‘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