Mereja.Forum

(Reuters) - Ethiopia appeared to be on the brink of a debt default on Friday after talks with key holders of the African country's $1 billion international bond ended without agreement.

Ethiopia's finance ministry said that "acute external liquidity pressures" meant it had told bondholders that it would not be in a position to pay a $33 million bond interest payment due on Dec. 11, an event which would trigger a default.

"Unfortunately, in the short time available between commencement of discussions and the upcoming interest payment date, an agreement... could not be reached," the finance ministry added in a statement.

Now, go buy drones and kill your people..

https://www.yahoo.com/finance/news/ethi ... 43249.html

The ministry of Finance had told bondholders that it would not be in a position to pay a $33 million bond interest payment due on Dec. 11, an event which would trigger a default.

Za-Ilmaknun wrote: ↑

08 Dec 2023, 19:53

Now, go buy drones and kill your people..

the depth of stupidity is unthinkable

It must be some pure joke. Default for not being able to pay $33 million. What happened to sugar daddy's pocket.

Abere wrote: ↑

08 Dec 2023, 21:06

PP-OLF wasted all resources to buy Drones so as to kill Amhara farmers. Now, the Drones are without munitions. የአገሪቱን ሃብት ድሮን መጠጠው፤ ጦርነት እና ዝርፊያ አጠበው። ስለ ኢኮኖሚ ማውራት እራሱ ጭራሽ አርዕስት ሊሆን አይችልም።

If, after all, the official disgusting behaviors that we have been witnessing lately cannot cover all the sht, then the problem is much more serious than we have thought.

In reality the economic behavior of any given country in the modern world is the reflection of the pollical order of that given country.

In a country with Undefined system of governance, talking about economy too is undefined. If thugs were able to stop God's rain and pleasant climate, life would cease to exist. Thank God, at least 95 % of the population livelihood comes from traditional farming. PP-OLF even attempted to waste the rainy season of Amhara farmers.

eritrea wrote: ↑

08 Dec 2023, 21:14

If, after all, the official disgusting behaviors that we have been witnessing lately cannot cover all the sht, then the problem is much more serious than we have thought.

eden wrote: ↑

08 Dec 2023, 20:20

Za-Ilmaknun wrote: ↑

08 Dec 2023, 19:53

Now, go buy drones and kill your people..

the depth of stupidity is unthinkable

Indeed! Prioritizing to liquidate your people over your debts is stupidity . you gave him enough space to maneuver and you still seem to be demanding for more after all it is the Amhara who are at the receiving end

Ya man, Abiye Ahmed Ali is checkmated by reality. He can’t con the economy. Printing money vs inflation, borrowing money vs interest payments, buying weapons vs debts. …
Dead-end.

Ethiopia edges towards default as bondholder talks falter

Ethiopia appeared to be on the brink of a debt default after talks with key holders of Ethiopia's $1 billion international bond ended without agreement.

The combined cost of the COVID pandemic and the civil war in northern Tigray region has left Ethiopia struggling to pay its debts.

Ethiopia's finance ministry said that "acute external liquidity pressures" meant it had told bondholders that it would not be in a position to pay a $33 million bond interest payment due on December 11.

"Unfortunately, in the short time available between commencement of discussions and the upcoming interest payment date, an agreement could not be reached," the finance ministry added.

The finance ministry said Ethiopia would "broaden the engagement with the holders of its Eurobond" and hold a call next week to set out a possible proposal for the debt.

This just shows the world leaders have sensed his demise and refused to give him money to cover for his interest payment.

If he can't pay his interest how is going to pay for the weapons he is waiting to import. Nobody wants to give him loans to purchase weapons not because they want Fano to win but because they know he can NOT defeat Fano!

They would rather spend their money on finding ways to sabotage Fano! through the back door than spending money to arm Fano further! Period!