Ahmed Shide

Ethiopia’s Commercial Debt Hits a Record USD7 billion

Ethiopia’s commercial debt stock has reached almost seven billion dollars as of the end of last year, National Bank of Ethiopia (NBE) reveals.

It accounts for one-fourth of the country’s total debt stock and showed a 2.7Pct annual increase, according to the report published by NBE.

The lion share of the commercial loan is owed to China and is expected to be repaid in the coming half a decade.

Commercial loans are grouped under non-concessional financing, which are provided with a market-based interest rate.

It is to be recalled that the government announced that it has almost stopped receiving non-concessional loans two years ago.

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