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Feb 19 , 2020
Ahmed Shide
The level of debt stress has seen an improvement from high risk to moderate due to loan rescheduling, according to officials at the Ministry of Finance. The debt to GDP ratio has seen a drop by 11 percentage points to 45pc, in January this year. The Chinese government has agreed to reschedule loan repayments and change commercial loans into concessional loans, according to Haji Ibsa, communications director at the Ministry. China has doubled the repayment period of the railway loan along with its grace period to 20 years and 10 years respectively. Ethiopia has 39.1 billion dollars of outstanding debt, out of which 16.8 billion dollars in foreign debt and has secured 54.5 billion Br in the form of loans and grants during the first half of the fiscal year, almost the same as last year.
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