The Government China has agreed to extend debt settlement period for Ethiopia, Premier of Ethiopia said. In Africa, Ethiopia is one of the highly indebted countries with a total external loan of over $28 billion including the recent one billion dollars from the United Arab Emirates. Reports show that from 2000 – 2014, Ethiopia has received a total loan of $12 billion from China. In one of his papers in 2016, Addis Ababa University Economics professor Alemayehu Geda, indicated that the country’s economy is at the verge of collapsing. The country will collapse, I guarantee you,” he said, presenting a paper in Addis Ababa in April 2016.

Source: News Business Ethiopia September 06, 2018 15:00 UTC