Ethiopia shifts from commercial to concessional loans on foreign debts

Ethiopia is currently negotiating with its creditors to convert commercial loans into concessional loans, which could significantly lower its debt interest rates.

During a recent address to parliament, Prime Minister Abiy Ahmed stated that the nation’s foreign debt has been reduced to less than $23 billion, prompting a halt on new commercial loan acquisitions.

He outlined the government’s strategy for managing foreign debt, focusing on…