Ethiopia Covid takes toll, asks for debt relief

Ethiopia has long been seen as one of Africa’s most promising economies but the pressure the pandemic has placed on healthcare systems and economies means many developing nations are struggling to keep up with debt payments.

In a statement on Monday, its finance ministry said that it was “preparing for upcoming discussions with official creditors” as it looks to reduce “debt vulnerabilities and lower the impact of debt distress”.

“We haven’t even inoculated one individual against Covid, so we need to redirect the resources that we have towards that,” a senior official at the ministry of finance told the Financial Times.

Source Link : https://www.ft.com/content/4992e00e-557a-4c06-858b-e7e15bbf10ac