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Borkena
Toronto – Ethiopia’s Ministry of Finance on Wednesday announced that it has signed a memorandum of understanding with its Official Creditor Committee (OCC).
According to the Ministry the debt treatment agreement offers Ethiopia over USD 3.5 billion in debt relief. However, it is unspecified as to what Ethiopia is offering in return. The agreement is reached within the “G20 Common Framework,” it was said.
Abiy Ahmed’s government seems to see a great significance in the arrangement. “The agreement represents an important milestone in Ethiopia’s journey towards achieving long-term public debt sustainability and brings to a successful conclusion years long negotiation process,” the ministry stated.
The disclosure from the ministry said particularly to the committee’s co-chairs, China and France, for their steadfast support and collaboration in facilitating Ethiopia’s debt treatment endeavors.
China and France are among the creditors who entered into the reported agreement. The ministry declined to mention the names of the rest of the creditors. The Ethiopian government has been undertaking a diplomatic campaign for debt relief as it has been struggling with over 28 billion in external debs.
“Ethiopia extends its heartfelt gratitude to all members of the OCC, particularly to the committee’s co-chairs, China and France, for their steadfast support and collaboration in facilitating Ethiopia’s debt treatment endeavors,” The Ministry of Finance wrote.
Not much detail is offered in terms of its implementation including the timeline. However, the ministry highlighted that the implementation stage will be started after signing bilateral agreements with the individual member states of the OCC.
Borkena was unable to verify the story from the OCC , which is co-chaired by China.
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There is another news that just came out of the old country that will make you bigots and connivers cry rivers. The construction of the GERD has officially completed and a huge inauguration date is said to be planned on the Ethiopian New Year Day this coming September. So far, the dam has not affected the flow of fresh water reaching either Sudan or Egypt, not even by the spoonful. Watch Egypt now. It will hire some so-called experts to cook up fabricated ‘data’ to lie about the flow of water reaching its territory since the construction began in 2011. But it will not tell the world that it has begun diverting part of the very flow of the river to build a new mega city in the middle of a desert. Liar, liar, your pants on fire!!!
This dam has already started benefiting neighboring Djibouti and Kenya with cheap electricity. Farther down countries like Tanzania and even Malawi are screaming with ‘pass the dutchies bro’.
Wait a minute! Hold up, hold up folks! There is breaking news. Meteorologists are now reporting a sudden and dangerous rise of water in the rivers and lakes in Minnesota, Toronto, Oslo and Down Under. But it has not been raining there for more than 48 hours. They found out the source. It was the tears from crying bigots and connivers. They were heard crying and begging their benefactor in Asmara (who is always around them with brown paper bags full of crisp US dollars) to send its clunky Mig-29’s and blow up the dam for them.
Billions of dollars relieved? Free or in exchange is the question.