Sunday 21st December 2014

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Opinion
“LIVE WRONG. PARTY ON. PAY LATER.” PDF Print E-mail
By Kebour Ghenna   
Monday, 10 November 2014 08:51

Ethiopia has always been a reliable but modest borrower (even though its debt to GDP has gone past 40%). It is now upping the stakes and going to private banks for more loans. It’s considering to issue its first-ever bonds to private foreign investors in London or New York. Given that Ethiopia remains one of the poorest countries in the globe, and still in need of some kind of debt forgiveness, access to private lenders may look unnatural. But then again Ethiopia’s B- or so status by Moody’s, Fitch and Standard & Poor is today considered good enough to run to the banks. I suppose some would view this as a sign of great investor confidence in Ethiopia’s economy.
What do you expect? Things have changed ... today a B- grade is no more considered a warning sign! Add a comment

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Growing inequality clouds Angola’s expanding economy PDF Print E-mail
By Nirit Ben-Ari   
Monday, 20 October 2014 08:06

Angola has one of the world’s fastest growing economies. Its economy grew by 5.1% in 2013. As major public infrastructure investments in energy and transport kick in, its growth is projected to reach 7.9% in 2014 and 8.8% in 2015. Yet, the United Nations Development Programme (UNDP) reports that around 36% of Angolans live below the poverty line and one in every four people is unemployed.
According to the International Monetary Fund (IMF), Angola is a “post conflict country that produces a lot of oil and faces the challenges of both.” Despite being the fifth largest economy in Africa, ordinary Angolans have seen little change in their standard of living. Only 37.8% of country’s 21 million people have access to electricity. While about half of the population has access to safe drinking water, this number falls to 34% in rural areas, says the World Bank. There are few jobs for the unemployed, mostly under 25 years, who make up 60% of the population. What should Angola do to change the current situation? Analysts say the solution is for Angola to diversify its economy, save and invest for the future - especially in skills and infrastructure development - and improve governance.   Add a comment

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