Ethiopia Says Economy Imbalanced, Needs Corrective Actions

  • State is reducing expenditure on expensive projects like roads

  • Nation has one of Africa’s fastest-growing economies

By Nizar Manek, 1 February 2019
(Bloomberg) --
The Ethiopian economy isn’t generating enough to pay off loans the state took to finance the Horn of
Africa nation’s ambitious infrastructure and development programs, Prime Minister Abiy Ahmed said.
Government investment in projects such as Africa’s biggest hydro-electric dam, sugar projects and a series of industrial parks across the nation have yet to earn sufficient foreign currency, he told lawmakers in the capital, Addis Ababa. Ethiopia has rescheduled 60 percent of its loan repayments to 30 years from 10 years, he said.
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