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Ethiopia’s parliament has approved the sale of 900 billion Birr in government bonds. Of this amount, 845.3 billion Birr will settle non-performing loans owed by government entities to the Commercial Bank of Ethiopia (CBE), while 54.7 billion Birr will recapitalize the bank.
The debt largely stems from loans taken by state-owned enterprises, which owe over 845 billion Birr to the CBE. Among them, Ethiopian Electric Power holds 192 billion Birr in debt, Ethiopian Railways Corporation 80 billion Birr, and Ethiopian Sugar Corporation over 110 billion Birr.
