NAIROBI (Reuters) – Ethiopia plans to seek a restructuring of its sovereign debt under a new G20 common framework and is looking at all the available options, the country’s finance ministry told Reuters on Friday. Ethiopia’s government bonds saw their biggest ever daily fall on the news and analysts said restructuring concerns could spill over […]
Source: The Conversation | Dorothee Baumann-Pauly Ethiopia has long been considered one of Africa’s economic wunderkinds. Until recently, it had relative political stability in comparison to other countries on the continent. And, with an average GDP growth rate of 10% in the past decade and a government that instituted policies friendly to foreign investors, the country was able to […]
Source: Bloomberg | Samuel Gebre, Agnieszka de Sousa and Simon Marks Nation scrapped import tenders for grain after no progress Ethiopia is seeking outside assistance to help feed its people Back in November, Ethiopia unveiled two deals to buy deeply discounted wheat from suppliers that seasoned traders had never heard of. A website named for one […]
Ethiopia in Crisis Ethiopia’s total debt reached 51% of its GDP Ethiopia’s total domestic and foreign debt has reached 54.7 billion US Dollar (2.01 trillion birr) (50.8 percent of the country’s GDP), according to a recent government debt statement. Source: Reporter Desert outbreak in Ethiopia caused 356, 286 metric tonnes of cereal loss In a […]
Source: Quartz Africa | By Zecharias Zelalm Senior officials at Ethiopia’s Ministry of Mines and Petroleum say the government is set to rescind an agreement with a US-based self-described energy firm after an investigation by Quartz Africa revealed the company had no petroleum industry expertise or technical credentials. “We are in the process of canceling our agreement with the company,” […]
Source: Quartz Africa | By Zecharias Zelalm An Ethiopian-American investor and his partners are on the brink of pulling off an elaborate scheme that may unfairly take advantage of Ethiopia’s long-held ambitions to build its own oil & gas industry and become energy independent. Nebiyu Getachew, 48, chief executive of GreenComm Technologies, a Virginia-based energy […]