Ethiopia shifts from commercial to concessional loans on foreign debts
Africanews · Less Recent
Africanews
Less Recent
Ethiopia is currently negotiating with its creditors to convert commercial loans into concessional loans, which could significantly lower its debt interest rates.
Breakdown
- Ethiopia is negotiating to convert commercial loans into concessional loans.
- Prime Minister Abiy Ahmed announced foreign debt has dropped below $23 billion. 10s
- The government has stopped acquiring new commercial loans. 14s
- Macroeconomic reforms have enabled restructuring of $4-$4.5 billion in foreign loans. 30s
- Ethiopia began addressing debt repayment challenges last year, with external debt over $23 billion as of September. 42s