Africa-Press – Ethiopia. Efforts are underway to pull down the national foreign debt to a single digit, Prime Minister Abiy Ahmed said.
Responding to questions raised by MPs today, the Premier said that Ethiopia, since the outset of the change, has registered resultant achievements in debt restructuring.
Recalling that the country’s foreign debt had been higher prior to the change, Abiy pointed out that the government has been intensively working on lowering it.
Ethiopia’s foreign debt is relatively better than that of sub-Saharan countries, he added.
The average total debt of sub-Saharan countries is 55 percent, of which 25 percent is foreign debt, while Ethiopia’s total debt stands at 31 percent, 14 of which is foreign debt, the premier elaborated.
To be able to register the attained result within various challenges demonstrates the governments’ commitment and special focus on the issue, he pointed out, and he noted that efforts are underway to bring foreign debt below 10 percent.
The premier has also talked about the overall economic situation of the country, stating that Ethiopia is one of the few countries in Africa and around the world that are registering fast economic growth.
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