Ethiopian official downplay concerns about Chinese loan trap


Kwao Saa

Ethiopia is owing China billions of dollars and there are fears that Beijing may trap the East African country in debt. Addis Ababa is currently renegotiating a loan for billions from Beijing for the development of a railway that links Ethiopia to neighboring Djibouti.

China has been accused of offering loans to other countries to expand its influence across the world. However, Ethiopia’s ambassador to China has said that there is no need to worry about Chinese investment.

“Those who may think this is an investment that is not worth investing in the Chinese side, I think that’s wrong because… If you are talking from an economic rationale, I think it makes a lot of sense,” Ambassador Teshome Toga Chanaka said. […] CONTINUE READING