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.


Radar

Ministry Ponders Tax Waivers for Rural Energy Solutions

Tax exemptions for off-grid energy technologies like solar pumps and mini-grids are under discussion, spearheaded by the Ministry of Water & Energy. Commonly used by rural households, officials disclose their simultaneous plan to develop 300 mini-grids in the next six years. According to Birhanu Weldu, the lead executive of rural energy technology development, the initiative tackles the country's low electrification rate and reliance on charcoal and firewood. Charcoal, fuel wood, and...


Radar

Rural Land Proclamation Comes to Light

A landmark legislation that grants title holders in rural areas the right to use the property as collateral was unanimously ratified by Parliament last week. It primarily focuses on extending access to finance for farmers and pastoralists, through a structured land title system. It also introduces criminal penalties for the illegal transfer of property. Replacing the 18-year-old proclamation for rural land management, the law sentences individuals engaging in land invasions and unauthoris...


Radar

Ethiopian Unveils $50m Domestic Terminal Renovation

With a rising demand for domestic travel, Ethiopian Airlines has renovated its terminal at Addis Abeba Bole International Airport with 50 million dollars to handle customers. The expanded terminal has doubled its previous size to 25,750Sqm and accommodates 200 daily flights to and from 22 domestic destinations. It includes four contact gates, 10 remote departure gates, 22 check-in counters with automated baggage screening systems, shops and restaurants. The terminal also features a dedica...


Back
WhatsApp
Telegram
Email