Country: Ethiopia
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Time is Running Out For African Debt Relief
It must be weird for African finance ministry officials to watch how large governments around the world have moved with unprecedented speed to pass trillions and trillions of dollars in emergency relief aid to bolster their own economies. Even the completely dysfunctional U.S. Congress that passes fewer ...
Wang Yi Works the Phones With African Foreign Ministers
In another sign that Beijing is paying more attention to COVID-19 in Africa, Chinese Foreign Minister Wang Yi appears to be increasing the frequency of his outreach to his African counterparts. This week alone he held two phone conferences with ministers from Angola and Ethiopia.
A Progress Report by the UN’s Vera Songwe on the Status of African Debt Relief
Economic conditions in a number of African countries are worsening by the day. Lockdowns and a plummet in global commodity prices brought on by the COVID-19 pandemic have led to severe economic repercussions across the continent.
Brookings Scholar Yun Sun Provides a Road Map For Chinese Debt Relief in Africa
There's growing anticipation over how China will respond to Africa's calls for debt relief amid the worsening COVID-19 crisis that is ravaging economies across the continent. So far, there have only been a few hints as to how China will proceed, ...
How is China Going to Handle Debt Relief in Africa?
With economic conditions across Africa rapidly deteriorating, leaders across the continent are escalating their calls for the international community to provide emergency debt relief. Until this week, though, those appeals have been broadly targeted, not singling out any particular country ...
If African Leaders Expect China to Cancel Their Debts, They’re Probably Going to be Disappointed
It's been just over two weeks since Ethiopian Prime Minister Abiy Ahmed issued the first call on behalf of African leaders for emergency debt relief. Since then, there hasn't been much movement on the issue in part because those appeals were broadly targeted at "international ...
President Kenyatta Joins Chorus of African Leaders Calling for Emergency Debt Relief
The Kenya State House public a four-part Twitter thread that renewed calls on behalf of African leaders for emergency debt relief to handle the burgeoning economic and public health crisis brought on by the COVID-19 outbreak. President Uhuru Kenyatta met with his South African counterpart Cyril Ramaphosa ...
The Future of Chinese Rail Financing in Africa
China famously lent billions of dollars to countries across Africa to build expensive, new railways. Nigeria, Ethiopia, Djibouti and Kenya all used loans from Beijing to build new lines using a standard gauge (SGR) that will one day ...
China’s Not Getting Its Money Back from Africa Any Time Soon, So Why Not Take the Lead in Debt Relief?
As economic conditions worsen across the continent, it's becoming increasingly evident that African governments will not be able to service the tens of billions of dollars in debt they've taken on over the past decade. Ethiopian Prime Minister Abiy Ahmed and ...
It’s Time We Talk About All That Chinese Debt in Africa
There are growing calls for international lenders to cancel or at least reschedule significant portions of Africa’s debt as economies one after across the continent another sink into recession as a result of the worsening COVID-19 outbreak. Earlier this month,
Africa’s Knocking on the Wrong Door for Debt Relief
The whole discussion going on today over calls from African leaders to write off or reschedule their countries' debts feels completely disconnected from reality. For some reason, they're focusing all of their attention on the G20 leaders summit that's going to take place today and comments ...
It’s Time to Talk About All That Debt
Ethiopian Prime Minister Abiy Ahmed took the initiative on Tuesday to talk about the proverbial elephant in the room: with Africa's economies spiraling downwards due to the worsening COVID-19 crisis, how are they ever going to be able to pay back all that money they owe ...