Ethiopia will face 1.9 billion dollar external debt servicing costs in 2022, the global credit rating agency, Fitch, said.
Of that amount, USD611 million is directly owed by the government, whereas remainder of debt servicing will be met by SOEs, some of which remain profitable and have access to FX.
The government estimated it would face 1.5 billion dollars debt service, lower than the forecast made by Fitch. This comes as the government build up its forex reserve
The recent IMF's SDR allocation bolstered Ethiopia's external liquidity. Fitch estimates that international reserves reached 3.5 billion dollars as of August 2021.