Ethiopia defers Eurobond payments for five years amid debt restructuring and rising domestic debt
via The Reporter Ethiopia6 min read
Ethiopia has deferred Eurobond payments for five years as part of ongoing debt restructuring efforts, according to Finance Minister Ahmed Shide. This disclosure was made during a review session of the Ministry's nine-month performance for the 2025/26 Ethiopian fiscal year. The country's total outstanding external debt remains at 33.5 billion US dollars, with 22.1 billion US dollars directly held by the federal government and 11.4 billion US dollars linked to state-owned enterprises. Domestic debt has increased to nearly 2.9 trillion Birr, up from 2.1 trillion Birr two years ago, largely due to increased government borrowing through treasury bills and bond sales. Officials indicated that liabilities of the state-owned Ethiopian Railway Corporation might be transferred to the Ministry of Finance due to the corporation's inability to generate sufficient revenue to service its loans. Ethiopia is negotiating under the G20 Common Framework, having reached agreements with 15 creditor countries, signed bilateral legal agreements with Italy and France, and nearing completion of negotiations with China. The Ministry expects to move from a "high risk" to a "moderate risk" debt classification once the restructuring is finalized. Federal tax revenue increased to 987 billion Birr during the first nine months, and the government claims inflation declined to 9.4 percent in March. Ethiopia projects economic growth of 10.2 percent for the current fiscal year. The country also secured over one
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Must ReadAttacks against African nationals in South Africa are more accurately described as Afrophobia, a form of hostility directed at fellow Africans, rather than simply xenophobia. This distinction is crucial for effective diagnosis and response. While ordinary South Africans are generally warm and humane, misleading narratives contribute to this issue, often portraying non-South African Africans as burdens on public resources or job stealers. However, claims about migrants taking jobs are often inaccurate, as many non-South African nationals face significant barriers to formal employment and primarily work in the informal sector. The notion of South African exceptionalism is also problematic, as the country shares similar challenges and potential with other African nations. The persistent labeling of Africans as "foreigners" on African soil undermines continental unity and reinforces exclusionary attitudes. Afrophobia is not merely about economic competition but also a philosophical crisis of African identity, stemming from a deeper failure within the transnational African project. South Africa's advanced infrastructure, a legacy of settler-colonial history, has not benefited the majority, creating a vacuum where citizens are misled into believing they are superior. This contributes to viewing fellow Africans as competitors. The current surge in Afrophobia is also linked to the "long shadow of coloniality," where postcolonial states sometimes perpetuate exclusionary tactics. The u
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