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03 Jul 2019, Gergana Bencheva, EMIS Editor

Ethiopia’s govt debt surpasses USD 52.3bn

Ethiopia’s government debt to foreign and local lenders has surpassed USD 52.3 billion, CEEMarketWatch reported referring to the country’s finance ministry. In detail, the African country’s external debt reached some USD 27 billion and the domestic one is about USD 25.4 billion.

Over the past 11 months, Ethiopia has managed to pay USD 9.4 billion but overall it has been challenged by its huge debt burden mainly due to huge public investment and low exports.

Over the past decade, the Ethiopian government has borrowed money to invest in infrastructure. Now, it is forced to restructure its debt repayment schedule negotiating with China, which is one of its major lenders, CEEMarketWatch added.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: CEEMarketWatch