Within the next three years alone, Ethiopia is expected to pay over $7 billion towards its debt. borkenaJanuary 30,2019Ethiopia’s international and domestic debt is estimated to be US $50 billion or 1.4 trillion Ethiopian birr, according to a report by Ethiopian state media. Government claims that most of the loans were spent on infrastructure development, development projects and Commerce. With its meager earning from export trade, there is a concern now if Ethiopia could catch up with its loan repayment schedule. The first option is to increase export earning which they say is a long term, but lasting, solution which need restructuring the economy.

Source: Ethiopian News January 30, 2019 19:07 UTC