IMF Tells Ethiopia – No More Foreign Currency Market Borrowings, Probably Sensibly

The IMF has told the Ethiopian Government that it really must stop borrowing from the overseas markets in foreign currency – this is probably a very sensible idea. Not because more capital wouldn’t aid in developing the country, but because Ethiopia just isn’t that developed as yet. This means that it doesn’t have the fiscal room to take on debt levels which more advanced countries would simply laugh at.

This is actually one of those little problems we’ve got with development.…

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