Government investment in projects such as Africa’s biggest hydro-electric dam, sugar projects and a series of industrial parks across the nation have yet to earn sufficient foreign currency, he told lawmakers in the capital, Addis Ababa. Ethiopia has rescheduled 60 percent of its loan repayments to 30 years from 10 years, he said. “After the political unrest in the country, we have seen high macro-economic imbalance,” Abiy said, referring to turmoil that began about four years ago. It came in at 10.4 percent in December, from 13.6 percent a year earlier, according to Central Statistical Agency’s data. The European Union wants to support infrastructure between Ethiopia and Eritrea, while the World Bank is willing to fund the development of Eritrean ports, Abiy said.

Source: Ethiopian News February 01, 2019 12:59 UTC