Loanburden

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…

11 Dec

Ethiopia Grapples with Financial Distress countries list

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, EthioNegari, Ethiopia, Ethiopianews, Loanburden

Ethiopia is grappling with financial distress countries list amid mounting loan pressures. Ethiopia finds itself in a precarious financial situation, as reports indicate the government's struggles to meet its loan obligations. Plans are underway for further discussions with creditors this week, focusing on the long-term loan and interest payments. According to a Bloomberg report, doubts loom over the Ethiopian government's capacity to repay a 1 billion euros loan and $33 million in interest from the 2014 Eurobond loan. The report suggests that Ethiopia is at risk of joining the ranks of financially distressed countries in Africa, following in the footsteps…