Thursday, December 30, 2004

US Cancels 100 Percent of Ethiopia's Debt

The United States is to write off $72.6m debt owed by Ethiopia, following an agreement signed in Addis Ababa on Thursday between the two countries, Ethiopian News Agency (ENA) reported.

One can hope that the Ethiopian government will engage in the country's poverty reduction programs and tackle the food shortage crises and lack of infrastructure.

More details on the write off.

Italy Cancels Ethiopia's Debt Too
Italy is to write off Ethiopia's debt of $462.4m following an agreement signed on Monday, January 3 in Addis Ababa between the two countries, the Italian embassy said in a statement.

More details on the write off.

Food Statistic: With the largest livestock population in Africa, Ethiopia has an ample supply base for the export of live animals and meat. Its livestock resources are estimated at 27 million cattle, 24 million sheep and 18 million goats.

Recently, the government signed the following agreement...

Cairo-Ethiopia Sign $50 million Meat Import Agreement
The agreement stipulates that Ethiopia would provide Egypt with livestock or beef meat for two years, and that Egyptian companies would build a mechanized slaughterhouse and rehabilitate another four in Ethiopia.

Mineral Statistic: Ethiopia offers excellent opportunities for mineral prospecting and development. Geological studies undertaken so far by the Ministry of Mines show the existence of rich geological environment in the country.

Trivia: Ethiopia is the world's main supplier of civet (zebade), which is used in perfumes throughout the world. LEARN more about Ethiopia's trade crops.

VIEW current mining and explorations in Ethiopia on www.trade.uktradeinvest.gov.uk.


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