Monday, April 15, 2024

Tag: Debt

Somalia requestsUSD 4.7bln external debt cancellation

On the sidelines of the 32nd ordinary summit of the African Union (AU), the government of Somalia has askedthe international community to cancelits USD 4.7 billion external debt, The Reporter has learnt.

IMF says, layoff Non-Concessional Borrowing

In its latest staff report released this week, dubbed “Article IV Consultation for 2018,” the International Monetary Fund (IMF) stated that Ethiopia has to restrain from accessing any Non Concessional Borrowings (NCB) for the upcoming fiscal year, respecting the agreed up on zero ceiling limit on its commercial borrowing portfolio.

Chinese government to restructure Ethiopia’s debt

Prime Minister Abiy Ahmed (PhD) on Thursday disclosed that the Chinese government has agreed to restructure some of Ethiopia’s debt, including a USD four billion loan for a railway that stretches from Addis Ababa to Djibouti.

Gov’t sets up public-private partnership directorate

Faced with an increasingly difficult external debt levels and hence difficulty to access foreign finance, Ministry of Finance and Economic Cooperation established a Public Private Partnership (PPP) Unit for the implementation of the recently passed PPP proclamation, The Reporter learnt.

Ethiopia to avoid non-concessional loans

After shunning repeated call from the International Monetary Fund (IMF) and the World Bank Group (WBG) to limit commercial borrowing, and feeling the pressure of the accumulated external debt of Ethiopia, the Ministry of Finance and Economic Cooperation (MoFEC) has decided to strictly avoid non-concessional loans from foreign creditors for an unspecified period of time, The Reporter has learnt.

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