Ethiopia’s dependence on foreign capital to finance budget deficits and a five-year investment plan is unsustainable, said Ken Ohashi, the World Bank’s country director for the Horn of Africa nation.
The government plans to borrow at least 398.4 billion Ethiopian birr ($23.6 billion) from home and abroad to fund the five-year growth plan, with an additional 75.4 billion birr to finance fiscal deficits over the same period.
