Ethiopia is now Africa's fastest growing economy

Re:Ethiopia is now Africa's fastest growing economy by gandreani on Monday May 21, 2018 @10:41AM (#17118710)

> There's a shortage of foreign currency due to the mega projects underway

Could you elaborate? How is there a shortage if there's a ton of foreign investment coming in?

[ Parent | on HN ]

Re:Ethiopia is now Africa's fastest growing economy by Habesha on Monday May 21, 2018 @11:55AM (#17119284)

Not all mega infrastructure projects are foreign aid/loan financed. For example the 6000 MW Nile Grand Renaissance Dam is self financed by Ethiopia.

Beside there is a deficit between export and import leading to currency shortage.

https://www.reuters.com/article/ethiopia-energy-idUSL6N0N91Q...

[ Parent | on HN ]

Re:Ethiopia is now Africa's fastest growing economy by nwah1 on Monday May 21, 2018 @10:53AM (#17118802)

This sounds more like a case of rental values of locations increasing, as the price of prime urban land is bid up, requiring laborers be paid more to achieve the same standard of living, and inflating costs across the board.

Same issue that all booming cities face, whether it is New York, San Francisco, London, Hong Kong, Tokyo, or anywhere else.

Some manage it better than others.

[ Parent | on HN ]