Debtrelief Archives - Ethio Negari

28 Aug

African Nations Unite to Tackle Rising Debt in State-Owned Enterprises

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, Debtrelief, ECA, ECOSOC, EthioNegari, Ethiopia, Ethiopianews, SOE, UNDP, UNECA

In a concerted effort to address the escalating debt challenges faced by State-Owned Enterprises (SOEs) in Africa, the United Nations Economic Commission for Africa (ECA) organized a high-level workshop in Pretoria from August 21 to 23, 2024. This gathering brought together finance policymakers, industry experts, and international organizations to exchange best practices and develop strategic solutions for effective SOE debt management across the continent. The workshop saw participation from officials representing the Ministries of Finance from Cameroon, Ethiopia, Ghana, Nigeria, South Africa, and Zambia. Also in attendance were representatives from the United Nations Development Programme (UNDP), the African Forum and…

31 Jul

Ethiopia Secures Over $16 Billion from World Bank

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, Debtrelief, EthioNegari, Ethiopia, Ethiopianews, Grants, IMF, Loanburden, WorldBank

The World Bank has granted more than $16 billion in financial assistance to Ethiopia. The World Bank's Board of Directors announced that it will provide $16.6 billion in loans and assistance to Ethiopia over the next three years. According to the World Bank's website, the financial aid and loans will support Ethiopia's ongoing economic reforms. The bank stated that $1 billion of the approved funds will be direct support, while $500 million will be an extended loan. Additionally, the World Bank has announced several support frameworks to aid Ethiopia's indigenous economic reforms. Specifically, $1 billion will be direct aid, $500…

03 Apr

Ethiopia’s Two-Week Deal with IMF Ends without Agreement

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, Debtrelief, EthioNegari, Ethiopia, Ethiopianews, IMF

Ethiopia continues its discussions with international lending institutions and countries, aiming to secure support for its economic reforms. One of the major institutions engaged in talks with the Ethiopian government is the International Monetary Fund (IMF), which recently concluded a visit to Addis Ababa. According to information released on the IMF's website, the institution's visit to Addis Ababa took place from March 24 to April 2, 2024, at the request of the Ethiopian government. Ethiopia has sought IMF assistance to bolster its economic reform agenda, leading to the dispatch of a team of IMF experts led by Alvaro Piris to…

07 Oct

Ethiopian Hotel owners requests Government to extend bank debt payment period

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, Debtrelief, EthioNegari, Ethiopia, Ethiopianews, Hotelbusiness, hotelsinaddisababa, Warinethiopia

According to the Ethiopian Federation of Hotel and Tourism Employers, the hotel and tourism business in Ethiopia is constantly weakening. The federation’s president, Fitih Woldesenbet, told VOA that the hotel and tourism business in the world was weakened due to COVID-19, but it has now returned to its previous position. He said that taking action based on the recommendations submitted to the government to help the hotel industry recover from the damage caused by COVID-19 in Ethiopia saved the sector from further damage. The president said that the system implemented under the Covid protocol has allowed hotels that had stopped…

20 Mar

Russia Writes Off $20 Billion African Debts

ethionegari@gmail.com0 CommentsBusiness, News, PoliticsAddisAbaba, Africa, China, Debtrelief, EthioNegari, Ethiopia, Russia, Vladimirputin

Russian president viladmir Putin speaks at the Russia-Africa 2023 summit in Moscow. He said Africa will become one of the leaders of the new multipolar world order and Russia will continue to give priority to cooperation with African countries. Russia, Africa, Asia, and Latin America together oppose the Neo-colonial ideology and together make up the world’s majority, he added. Putin highlights about Russia's fulfillment of its obligations to supply food, fertilizers, and fuel to Africa, RT reported. He also stated that the West is obstructing Russia’s attempts to donate fertilizer shipments for free. Russia insists on the supply of grain…