Ethiopian scholar warns country’s overstretched economy risks collapse


(African Overview) — The Ethiopian authorities’s rising reliance on overseas loans is posing a critical threat of financial collapse, a paper offered Friday by a famend native economist says. “Take as an illustration China, which has loaned over $17 billion to the Ethiopian authorities for infrastructure initiatives. Our complete funding is 40 per cent of GDP. Our financial savings charge is between 10-20 per cent of GDP. We import $13 billion and export $three billion. They (China) are those who’re filling all these deficit gaps,” mentioned Alemayehu Geda, economics professor at Addis Ababa College and London College. He was presenting a


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