10.Ethiopia – 9, 956.000,000
Ethiopia’s public debt in 2015 amounted to 34,539 million dollars, has been on the increase since 2014with a rise of 8,843 million.The debt in 2015 reached 56.05% of the country’s GDP, a 9.75 percentage point increase when it was 46.3% of GDP in 2014.
It has risen since 2005 in global debt when it amounted to 9,695 million dollars although it dropped as a percentage of GDP when it was 78.24%.Ethiopia per capita debt in 2015 was 348 dollars per inhabitant. In 2014 it was 265 dollars, afterward rising by 83 dollars.The debt per person was 129 dollars in 2005.
Ethiopia’s situation has worsened in 2015 concerning GDP percentage, making it the tenth of the most indebted countries in Africa.
Conclusion
Africa’s debt can be minimalized through tax collection, transparency and tapping into local currency debt markets. These are avenues that the continent’s large borrowers should not ignore.
-howtoafrica
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