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Some time ago harry did mention some majors approaching him about Saudi interests that was long before anyone knew about what was beneth, Now that results have came out we sit on a huge copper deposit and with two majors not far from our site who knows what could lie ahead for kefi
This loan should be granted around March this year this i.m.o will give ANS the kick it needs to transfer the funds im hoping by next week but tomorrow would be nice to give the s.p a break out it needs to build on the momentum GLA
Ethiopia to Get $ 6 Billion Loan, Assistance from WB, IMF: Official
By Staff Reporter
December 11, 2019 (Ezega.com) -- The World Bank (WB) and International Monetary Fund (IMF) have decided to provide a total of $6 billion to support the recently introduced homegrown economic reform in Ethiopia, a senior official disclosed.
Briefing journalists on Wednesday, Ethiopian State Minister of Finance Dr. Eyob Tekalegn said the global financial institutions have agreed to provide $6 billion to Ethiopia in the next three months, which represents 60 percent of the total $10 billion needed to execute the economic reform.
“The government has been engaged in resource mobilization from donors and international financial organizations for the implementation of the economic reform. We have reached consensus on technical issues with the WB and IMF who have already decided to release the stated money after approval by their respective boards,” Eyob has said
According to the state minister, the money would be secured in a form of assistance and loan but did not mention the percentages.
In August this year, the Ethiopian government introduced a home-grown economic reform to address the nation’s macroeconomic imbalance being reflected through record-high debt burden, a critical shortage of foreign currency and rising inflation.
With the new economic reform, the government intends to stabilize the country’s financial crisis, strengthen public financial sectors and focus on key and potential sectors such as agriculture, manufacturing, and mining as important pillars to ensure viable economic growth.
As part of an effort to modernize the agriculture sector, the state minister pointed out that tractors and combiners are being imported duty-free as more emphasis is given to agro-processing and leather products.
According to the minister, the Ministry of Finance and the National Bank of Ethiopia would play their part to oversee the additional $6 billion would not cause inflation but go to capital budget.
The National Bank of Ethiopia (NBE) two weeks ago lifted a long-running mandatory bond purchase policy which had been a burden on private banks,
The removed financial rule used to force private banks to purchase a bond accounting to 27 % of every loan they give to borrowers.
According to the state minister, the lifting of the rule has enabled private banks to lend money at lower interest rates. This, he said, would encourage more businessmen to engage in the economy.
Four months ago, the Executive Secretary of the United Nations Economic Commission for Africa (ECA), Vera Songwe, said Ethiopia’s plan to grow from GDP per capita of 865 to 2219 is “very ambitious,” but doable, citing the success stories of China, Laos, and Vietnam.
She said, “If Ethiopia continues to accumulate debt the way it is doing now, the nation will likely fall into debt distress in the next two years and will not be a credit-worthy country.”
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Dev Shetty from fura talking about a London listing back in summer 2018.......https://youtu.be/rZKMi9Ly8xk
My buys yesterday were showing as sells also I see the same today some clear buys showing as sells hmmmmm
Thats a very good hendi2 we shall find out soon enough thanks
Guys look at the bright side you got in under 1.70 many lth have an ave of well over 2 at least thats with alot of ave down.. We got saudi results to come ANS money aswell now that IMF has given the green light for loan billions of dollars... so tell me whats not to like here now you guys have got in at a good time with plenty of news to come all you have to do is hold on for a little bit longer thats all. I feel this is going to be a big play on aim just look at gold hiting new highs just relax
If or when ANS give the first trenche of cash the spike will be much higher than 10-30%. I also belive that ANS probably didnt have the cash they promised thats why time lines were moved so often. The good news is that the IMF have approved the loan which means money will be coming in the near future with the government backing this project it will happen. Because it will create jobs for many people and money for the government dont forget the IMF dont give money for free you need a solid plan to repay your debt and this gold mine is part of that plan.... imo
And just to top it off
December 11, 2019 (Ezega.com) -- The World Bank (WB) and International Monetary Fund (IMF) have decided to provide a total of $6 billion to support the recently introduced homegrown economic reform in Ethiopia, a senior official disclosed.
Briefing journalists on Wednesday, Ethiopian State Minister of Finance Dr. Eyob Tekalegn said the global financial institutions have agreed to provide $6 billion to Ethiopia in the next three months, which represents 60 percent of the total $10 billion needed to execute the economic reform.
“The government has been engaged in resource mobilization from donors and international financial organizations for the implementation of the economic reform. We have reached consensus on technical issues with the WB and IMF who have already decided to release the stated money after approval by their respective boards,” Eyob has said
According to the state minister, the money would be secured in a form of assistance and loan but did not mention the percentages.
In August this year, the Ethiopian government introduced a home-grown economic reform to address the nation’s macroeconomic imbalance being reflected through record-high debt burden, a critical shortage of foreign currency and rising inflation.
With the new economic reform, the government intends to stabilize the country’s financial crisis, strengthen public financial sectors and focus on key and potential sectors such as agriculture, manufacturing, and mining as important pillars to ensure viable economic growth.
As part of an effort to modernize the agriculture sector, the state minister pointed out that tractors and combiners are being imported duty-free as more emphasis is given to agro-processing and leather products.
According to the minister, the Ministry of Finance and the National Bank of Ethiopia would play their part to oversee the additional $6 billion would not cause inflation but go to capital budget.
The National Bank of Ethiopia (NBE) two weeks ago lifted a long-running mandatory bond purchase policy which had been a burden on private banks,
The removed financial rule used to force private banks to purchase a bond accounting to 27 % of every loan they give to borrowers.
According to the state minister, the lifting of the rule has enabled private banks to lend money at lower interest rates. This, he said, would encourage more businessmen to engage in the economy.
Four months ago, the Executive Secretary of the United Nations Economic Commission for Africa (ECA), Vera Songwe, said Ethiopia’s plan to grow from GDP per capita of 865 to 2219 is “very ambitious,” but doable, citing the success stories of China, Laos, and Vietnam.
She said, “If Ethiopia continues to accumulate debt the way it is doing now, the nation will likely fall into debt distress in the next two years and will not be a credit-worthy country.”
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Thanks for the info guys much appreciated.... maybe they know something we don't paying those prices is crazy who knows
How come the prices paid after close are so high wonder whats happening there. Tomorrow should be interesting hope we see some director buys after all they are billionaires GLA
So earthling got nothing to say now... You were the one who jumped on peoples backs for saying anything negative.... So you now understand what this bod is about next time please do some reaserch even if you did get in cheap
61.1 to sell just done dummy on halifax so slowly moving up
I understand your frustration the thing about chat boards is some people get in at a good price then ramp,ramp,ramp get others to buy in at high prices.... But on the positive side we still got more 6 more holes and news in Jan or feb I just hope ANS deliver the cash then this will come good
Earthling im invested here and have been for some time this is my largest holding as with most longer term holders we have seen a lot here broken promises etc..... yes this looks much better now with funding but ask yourself why isn't ANS giving the first trench cans been kicked again im just being real. but I do feel this will fly on solid news just don't get spiked
Yes i feel a placing is coming soon hope its not at .68..... why dont he do an open offer to existing shareholders at a discounted rate im sure he will be able to raise funds that way. We probably wouldnt get huge dumps either just a thout