The short answer is no.
Ethiopia has become the third African country to formally default on its debt in as many years, after missing the deadline this week to make a $33mn interest payment on its only international bond.
Ethiopia's economy is under pressure with an annual inflation rate of 28 per cent, foreign currency shortages and growing debt repayments.
Ethiopia is now trying to reach an agreement in principle with sovereign creditors including China last month to suspend debt payments and restructure its $1bn international bond.
Abiy's Ethiopia doesn't even have money to pay the interest of the country's debt, leave alone money to finance an unnecessary war that could go on for years and become devastating, leading Ethiopia to be bogged down in Somalia, requiring vast sums of money to be continuously poured into.
This is one more reason that the MoU is nothing more than a farce.
Can Ethiopia Afford To Go TO War In Somalia?
Last edited by Somaliman on 09 Jan 2024, 21:26, edited 2 times in total.
Re: Can Ethiopia Afford To Go TO War In Somalia?
It would be bad for both Ethiopia and Somalia. Especially when Somalia is recovering and Ethiopia is at civil war. But Somali's have no choice as Abiye has forced us to go to war. One thing that it has done is unite the Somali people from Ethiopia, Djibouti, Somalia and Kenya.
Re: Can Ethiopia Afford To Go TO War In Somalia?
Short-term time in the limelight is extremely important to Ethiopian leaders. They don’t care the consequence of what that can bring to the people and country. That seems to be the case this time as well.
There are no long-term plans for the future. They don’t even mention the role of UAE. The actual owner of the port is to be UAE. It doesn’t want to put its name on Fire. That is the reason why Ethiopia is made to willingly put its image and credibility at the front.
It is easy to create a conflict. But to solve it is another. God gave Ethiopia a golden chance to correct its past and create a brotherly relationship specially with both Eritrea and Somalia. Eritrea and Somalia was and are tired of war and misery and wanted badly to leave everything behind and focus on development and progress. That could have worked well for all.
Most ports around the globe are becoming free port. The propaganda that is spread by Abi in the name of the need of not having access but owning a port doesn’t reflect the reality but his desire to have time in the limelight to stun some gullible individuals like Abere, Horus and Misraq.
Otherwise, Somalia could have offered him even better deals if it was done in a trust worthy endevours but as always villains are shy of lights and that's why they choose to do things in the dark. And the end result is what we are observing today mistrust, confusion and even possible war.
Ethiopians and the Ethiopian government should listen carefully to the Somali President's warning when he said; If Ethiopia continues with its plan that he will invite even some that he did not want to invite to support him to defend his country.
With that he mean, it is Somalia's government that has a lot to say about what is happening in Somalia at the moment. But, if the conflict is allowed to continue then there is a risk that stronger countries will have a lot of say in what happens there and countries like Turkey and Egypt have the will and ability to turn the entire Horn of Africa and especially Ethiopia into pure hell on earth.
There are no long-term plans for the future. They don’t even mention the role of UAE. The actual owner of the port is to be UAE. It doesn’t want to put its name on Fire. That is the reason why Ethiopia is made to willingly put its image and credibility at the front.
It is easy to create a conflict. But to solve it is another. God gave Ethiopia a golden chance to correct its past and create a brotherly relationship specially with both Eritrea and Somalia. Eritrea and Somalia was and are tired of war and misery and wanted badly to leave everything behind and focus on development and progress. That could have worked well for all.
Most ports around the globe are becoming free port. The propaganda that is spread by Abi in the name of the need of not having access but owning a port doesn’t reflect the reality but his desire to have time in the limelight to stun some gullible individuals like Abere, Horus and Misraq.
Otherwise, Somalia could have offered him even better deals if it was done in a trust worthy endevours but as always villains are shy of lights and that's why they choose to do things in the dark. And the end result is what we are observing today mistrust, confusion and even possible war.
Ethiopians and the Ethiopian government should listen carefully to the Somali President's warning when he said; If Ethiopia continues with its plan that he will invite even some that he did not want to invite to support him to defend his country.
With that he mean, it is Somalia's government that has a lot to say about what is happening in Somalia at the moment. But, if the conflict is allowed to continue then there is a risk that stronger countries will have a lot of say in what happens there and countries like Turkey and Egypt have the will and ability to turn the entire Horn of Africa and especially Ethiopia into pure hell on earth.
Re: Can Ethiopia Afford To Go TO War In Somalia?
For about a year not, Ethiopia has been begging its creditors to at least allow it to suspend debt repayments on bonds maturing in the 2023-24 fiscal year.
Ethiopia has failed to pay the interest of its debt despite having relatively low levels of external debt compared to other countries which have defaulted.
There's no way a country that's incapable to pay the interests of its debt goes to war,
Ethiopia has failed to pay the interest of its debt despite having relatively low levels of external debt compared to other countries which have defaulted.
There's no way a country that's incapable to pay the interests of its debt goes to war,