Economics
Plug $10 Billion Hole and Prosper, UN Economists Tell Ethiopia
- Ethiopia’s debt at 60% of GDP places it at risk of distress
- Prime minister announces new economic plan to create jobs
People walk on a street in Addis Ababaon February 3, 2019 during the third Car Free Day promoted by local NGOs and the Ethiopian Government.
Photographer: Eduardo Soteras/AFP via Getty Images
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Ethiopia must attract new investment and reduce its debt if it’s to achieve the government’s economic growth and job creation targets, according to the United Nations Economic Commission for Africa.
The Horn of Africa nation has a $10 billion gap -- $6 billion in new investment and $4 billion of debt reduction per year -- that must be bridged to achieve its reform aspirations, UNECA Executive Secretary Vera Songwe said in an emailed statement.