By Dr. Suleiman WalhadEthiopia stepped into a destructive path in 2020 when it started a war with itself. There is also a likelihood that the Oromo may also turn against the Somalis on the East of the country soon. This is expected not to improve as the Amhara war is now in full display and would affect the economy as well. It became one of the defaulters in Africa in 2023 when it failed to make a US$ 33 million coupon payment on its Eurobond. Fitch rating agency downgraded Ethiopia’s credit rating to “C” and the Eurobond to “restricted default” in December 2023.

Source: Ethiopian News October 09, 2024 13:08 UTC