Debt Service Falls Short of Target by 33pc

Jun 8 , 2019

Ethiopia has serviced 9.4 billion Br of external debts in the first 10 months of the current fiscal year, achieving 66pc of its plan. The country’s total external debt stands at 27 billion dollars. The federal government owes 15.8 billion dollars, while the rest, 11.2 billion, is owed by state enterprises. The government’s internal debt currently stands at 731 billion Br. The federal government owes 344 billion Br in internal debt, while state enterprises owe 387 billion Br. The government has also managed to get relief from debt interest from Chinese financial institutions, following a debt restructuring and extension of grace and repayment periods, according to Ahmed Shide, minister of Finance. The minister also disclosed that the country planned to get four billion dollars from international partners and foreign governments in the form of loans and grants but could manage to reach 3.5 billion dollars of it in the reported period.