The government has secured 85.629 billion birr (around $3.1 billion) external financing in the first six months of its current fiscal year started July 8, 2028. Of the total around $2 billion came as aid and external assistance while the remaining was loan. Justifying why it is going to privatize the mega state enterprises, the government has indicated that Ethiopia’s external debt has exceeded $26 billion dollars moving the country into the highly indebted countries category. Currently Ethiopia’s total debt represents 44% of its GDP. Ethiopia’ s total debt two years ago was 30.7% of its GDP, according to the IMF.

Source: News Business Ethiopia February 09, 2019 14:48 UTC