Ethiopia

One Hundred and Fifth Sovereign Debt News Update: Ethiopia Agrees on Bilateral Debt-Service Suspension and Seeks Eurobond Restructuring

Amidst all this, Ethiopia's reputation with foreign credit agencies continues to suffer as a result of the national treasury's declining foreign exchange reserves. The downgrade of Ethiopia's long-term foreign-currency issuer default rating to “CC” from “CCC-” by Fitch Ratings has brought attention to this financial vulnerability. With Ethiopia's external cash dwindling and major gaps in external funding, Fitch downgraded the country, raising the possibility that default is imminent. The Fitch assessment states that although China has offered to postpone Ethiopia's debt service obligations for a year, it anticipates that these bilateral negotiations will not be "sufficient to address the large financial gaps and improve debt sustainability."

Seventy First Sovereign Debt News Update: Ethiopia Turns Directly to China and France in Quest for Debt Relief

The African Sovereign Debt Justice Network, (AfSDJN), is a coalition of citizens, scholars, civil society actors and church groups committed to exposing the adverse impact of unsustainable levels of African sovereign debt on the lives of ordinary citizens. Convened by Afronomicslaw.org with the support of Open Society for Southern Africa, (OSISA), the AfSDJN's activities are tailored around addressing the threats that sovereign debt poses for economic development, social cohesion and human rights in Africa. It advocates for debt cancellation, rescheduling and restructuring as well as increasing the accountability and responsibility of lenders and African governments about how sovereign debt is procured, spent and repaid. Focusing in particular on Kenya, Zambia, Zimbabwe, Mozambique, Nigeria and Senegal, the AfSDJN will also amplify African voices and decolonize narratives on African sovereign debt . Its activities include producing research outputs to enhance the network’s advocacy interventions. It also seeks to create awareness on and elevate the priority given to sovereign debt and other economic justice issues on the African continent and beyond throughout 2021.

Thirteenth Sovereign Debt News Update: World Bank, Rating Agencies and Regional Banks in Context

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

Eleventh Sovereign Debt News Update: Kenyans’ Reaction to IMF Allocations in Context

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

Ethiopia Has Enacted Its First Arbitration And Conciliation Proclamation

This article describes how arbitration and conciliation were treated in the old laws, and briefly outlines the new arbitration and conciliation proclamation by highlighting the unique provisions and in doing so contrasts and compares them to the old laws.

Third Sovereign Debt News Update: The IMF's Agreement in Kenya and Ethiopia in Context

The African Sovereign Debt Justice Network brings to you an update of African sovereign debt news and updates on events and happenings on and about Africa that reveal how sovereign debt issues are engaged by the various stakeholders.

Tech-mediated Tracking: A Viable Tool to Contain COVID-19 in Ethiopia?

The dire situation caused by COVID-19 has led governments to explore options for various alternatives to control its spread. Alongside other measures, states across the globe, including some African nations, are introducing contact-tracing through mobile/smartphone apps. This is particularly so in South Korea, Taiwan, China and Singapore East and Southeast Asian countries. Europe and the US are also considering the alternative.