Mereja.Forum

[eritrea]

Ethiopia becomes Africa's latest sovereign default


Ethiopia became Africa's third default in as many years on Tuesday after it failed to make a $33 million "coupon" payment on its only international government bond.

Ethiopia announced earlier this month that it intended to formally go into default, having been under severe financial strain in the wake of the COVID-19 pandemic and a two-year civil war that ended in November 2022.

It had been supposed to make the payment on December 11, but technically had up until Tuesday to provide the money due to a 14-day 'grace period' clause written into the $1 billion bond.

The widely-expected default will see Ethiopia join two other African nations, Zambia and Ghana, in a full-scale "Common Framework" restructuring.

[eritrea]

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[Union]

Its not Ethiopia, its oromuma

[Noble Amhara]

33 million went into droning fano

[Selam/]

Think about this: the $33 million is just the interest on the debt.

Ethiopia becomes Africa's latest sovereign default


Ethiopia became Africa's third default in as many years on Tuesday after it failed to make a $33 million "coupon" payment on its only international government bond.

Ethiopia announced earlier this month that it intended to formally go into default, having been under severe financial strain in the wake of the COVID-19 pandemic and a two-year civil war that ended in November 2022.

It had been supposed to make the payment on December 11, but technically had up until Tuesday to provide the money due to a 14-day 'grace period' clause written into the $1 billion bond.

The widely-expected default will see Ethiopia join two other African nations, Zambia and Ghana, in a full-scale "Common Framework" restructuring.

[Fiyameta]

It's a wake up call. It's very unfortunate that Abiy is bombing the very people that could have raised the $33 million the country needs to service its debt. He thought his professed begging skills alone would help him get out of the quagmire, but that has proved to be ineffective.

[Fed_Up]

በራሷ መቆም የማትችል የተረት ተረት ሃገር :: 80% በጀቷ በእርዳታ እና ምጽዋት "ወፌ ቆመች .. ወፌ ቆመች" እየተባለች እንደ ሰካራም ከአመት አመት እየተንገዳገደች የምትቀጥል አገር ዲፎልት ሆነች ቢባል ምን ያስደንቃል? ድሮም የተመጸወላት ነበር የምትከፍለው እንጂ አምርታ አፍርታ ሸጣ አልነበረም:: መጽዋቾች ተሰላችቷል እንዲሁም ፌኩ ዴዴቡ ዶክተር አንድ የቀረችው የልመና ክህሎት ክዶታል:: ገና ብዙ አፍ በእጂ እሚያስጭን ስቅጣጭ ውርደቶችን እንሰማለን::

ምናልባት ፋኖ መጥቶ ኢትዮጵያን ካልታደጋት ...ህወሃት ያጨመላለቃት ሃገር ቀጥሎም በአብይ ፌኩ ስር በዜጎች ደም የተለነቆጠች ኢትዮጵያ ዋጋም የለሽ::

[Misraq]

Ayte Midget Zenawi once said....ስልጣን ለኦሮሞ መስጠት ብርጥቆ ለሕፃን ልጅ እንደመስጠት ነው።

Evil Weyanes hate Ethiopia so much, they groomed and prepped the OPDO Oromo servants to be their secssosors. In the end everyone, even Tigray is paying the price.

[Selam/]

ቱስ ቱስ ወያኔ - እራሱን የሚሳደብ ሰው ከወራዳም ወራዳ ነው። ሹል!

Ayte Midget Zenawi once said....ስልጣን ለኦሮሞ መስጠት ብርጥቆ ለሕፃን ልጅ እንደመስጠት ነው።

Evil Weyanes hate Ethiopia so much, they groomed and prepped the OPDO Oromo servants to be their secssosors. In the end everyone, even Tigray is paying the price.

[Fiyameta]

If begging has not worked by now, may be it is time to burn the TPLF's book of doom authored by the agame almaze/Misraq, and consider other ethical options, such as working for peace with a guaranteed outcome of stability vital for enjoying a debt-free living and economic development. Try that Abiy!

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[Dark Energy]

I don’t know how the federal government taxes its citizens, I am sure that there is federal tax, state or Kልል tax and city tax in some form or another. The population of Ethiopia is over 120 million. Ethiopia receives foreign aid generously. Ethiopian Air Lines generates considerable million of dollars. The Dam generates millions as well. Ethiopia loves to borrow foreign money whether they are needed for promising projects or not. Thirty three million dollars should be a short change for Ethiopia. There are Ethiopian citizens who earn that kind of money in their private endeavor. Hence, why couldn’t Ethiopia service a few millions of debt ? The idiot you call prime minister and his staff don’t know how to manage a balanced economy. I bet countries like Emirates are lending hundreds of millions of dollars to Ethiopia that carry immense debt services cost to the citizens of Ethiopia. Property tax on those high rise buildings of Addis can generate at least that much as well.

[Misraq]

ቱስ ቱስ ወያኔ - እራሱን የሚሳደብ ሰው ከወራዳም ወራዳ ነው። ሹል!

Ayte Midget Zenawi once said....ስልጣን ለኦሮሞ መስጠት ብርጥቆ ለሕፃን ልጅ እንደመስጠት ነው።

Evil Weyanes hate Ethiopia so much, they groomed and prepped the OPDO Oromo servants to be their secssosors. In the end everyone, even Tigray is paying the price.

የጉራጌና የኦሮሞ ዲቃላው ግንቦቴ የተመታህ ነህ lol

[Selam/]

ቱስ ቱስ ወያኔ - በፈስ የተወለድሽ ዘረቢስ ዶሮ፣ ኦሮሞና ጉራጌን ከአማራ ለማጣላት ስትኳትኚ ታሳዝኛለሽ። ጉጥ!

ቱስ ቱስ ወያኔ - እራሱን የሚሳደብ ሰው ከወራዳም ወራዳ ነው። ሹል!

Ayte Midget Zenawi once said....ስልጣን ለኦሮሞ መስጠት ብርጥቆ ለሕፃን ልጅ እንደመስጠት ነው።

Evil Weyanes hate Ethiopia so much, they groomed and prepped the OPDO Oromo servants to be their secssosors. In the end everyone, even Tigray is paying the price.

የጉራጌና የኦሮሞ ዲቃላው ግንቦቴ የተመታህ ነህ lol

[Selam/]

Well, mujahideen Abiy defaulted by design to tap into extended credit facilities and sign some sort of debt restructuring agreement. That would mean more tax revenue.

I don’t know how the federal government taxes its citizens, I am sure that there is federal tax, state or Kልል tax and city tax in some form or another. The population of Ethiopia is over 120 million. Ethiopia receives foreign aid generously. Ethiopian Air Lines generates considerable million of dollars. The Dam generates millions as well. Ethiopia loves to borrow foreign money whether they are needed for promising projects or not. Thirty three million dollars should be a short change for Ethiopia. There are Ethiopian citizens who earn that kind of money in their private endeavor. Hence, why couldn’t Ethiopia service a few millions of debt ? The idiot you call prime minister and his staff don’t know how to manage a balanced economy. I bet countries like Emirates are lending hundreds of millions of dollars to Ethiopia that carry immense debt services cost to the citizens of Ethiopia. Property tax on those high rise buildings of Addis can generate at least that much as well.

[Abere]

Oromumanomics problem:

___It is certain much of this money was borrowed by TPLF 5 years ago. The logic is looking at the minimum money to be paid only for the cost of money borrowed (interest) shows the magnitude of the actual debt. The accumulated interest is unbelievably high. TPLF borrowed and siphoned of it and deposit in foreign banks - that money was used to bribe lobbyist and trolls in the JoeBiden UUU period.

___ Of course, Abiy Ahmed later borrowed extensively and brought huge debt to country. Abiy wanted the money in his despair need to get drones as well as do the same favor to his Orommuma cadre as Woyane did - put some money in their cadres pocket. The recent African Development Bank crime proves that. The so-called OLF-PP government in stead of paying its debt or deposit directly in the bank's account it deposited in the money in an offshore account in Panama. It is sad that Ethiopians are robbed in broad daylight once again by Orommuma after 27 years of robbery by Woyane. These two separatist anti-Ethiopians and looters unconditionally compromised the aspiration of the future generation.

____ When Orommuma is totally deposed and kicked out of the country expect to hear more ugly news - these separatists dirtied the country beyond anyone's imagination.

[Selam/]

You are spot on!

Oromumanomics problem:

___It is certain much of this money was borrowed by TPLF 5 years ago. The logic is looking at the minimum money to be paid only for the cost of money borrowed (interest) shows the magnitude of the actual debt. The accumulated interest is unbelievably high. TPLF borrowed and siphoned of it and deposit in foreign banks - that money was used to bribe lobbyist and trolls in the JoeBiden UUU period.

___ Of course, Abiy Ahmed later borrowed extensively and brought huge debt to country. Abiy wanted the money in his despair need to get drones as well as do the same favor to his Orommuma cadre as Woyane did - put some money in their cadres pocket. The recent African Development Bank crime proves that. The so-called OLF-PP government in stead of paying its debt or deposit directly in the bank's account it deposited in the money in an offshore account in Panama. It is sad that Ethiopians are robbed in broad daylight once again by Orommuma after 27 years of robbery by Woyane. These two separatist anti-Ethiopians and looters unconditionally compromised the aspiration of the future generation.

____ When Orommuma is totally deposed and kicked out of the country expect to hear more ugly news - these separatists dirtied the country beyond anyone's imagination.