China agrees to cancel Ethiopia’s debt: statement

China has agreed to cancel an unspecified amount of debt its owed by Ethiopia, the Spokesperson Office of Ethiopia Ministry of Foreign Affairs (MoFA) disclosed on Tuesday.

MoFA disclosed the debt cancellation agreement was signed between the visiting Chinese Foreign Minister, Qin Gang and the Deputy Prime Minister and Foreign Minister, Demeke Mekonen.

The MoFA statement said the agreement is for the partial cancellation of debts owed by Ethiopia to the Asian economic superpower.

The amount of Chinese debts owed by Ethiopia is an opaque issue, although conservative non-official estimates put it at at several billion U.S. dollars at the very least.

Earlier today Wednesday, Qin and the Chairperson of the African Union Commission, Moussa Faki Mahamat inaugurated the Africa Center for Disease Control (CDC) Headquarters in Addis Ababa.

Apart from Ethiopia, the Chinese FM will visit the Central African country Gabon, the West African country Benin, the Southern African country Angola and the North African country Egypt.

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