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Gene Ellis

allAfrica.com: Ethiopia: Gambling On Education (Page 1 of 6) - 0 views

allafrica.com/...201309020818.html

education Ethiopia

shared by Gene Ellis on 09 Jan 14 - No Cached
  • The communist Derg junta was ousted in 1991 and five years later only 27.5% of school-aged children received primary education; today that figure stands at over 85%, according to the World Bank.
  • In August 2005 the government embarked on an ambitious expansion plan, simultaneously building 13 universities across the country at a cost of $550m, paid for out of the education budget.
  • Ten more universities are under construction, all of which have already begun to admit students, increasing even further the country's higher education capacity.
Gene Ellis

Nigeria Pays Off Its Big Debt, Sign of an Economic Rebound - NYTimes.com - 0 views

query.nytimes.com/...fullpage.html

shared by Gene Ellis on 15 Jan 14 - No Cached
  • Nigeria reached a deal last October with the Paris Club, which includes the United States, Germany, France and other wealthy nations, that allowed it to pay off about $30 billion in accumulated debt for about $12 billion, an overall discount of about 60 percent.
  • Nigeria, which owed about $36 billion in overall debt, is one of the most indebted nations in the world.
  • Yet Nigeria had not been among the nations that have received write-offs or discounts on their debts, as several poor countries have. In part that is because of its reputation for corruption, earned by a succession of military governments that plundered the state treasury, and because Nigeria, with its oil wealth, is seen as being able to pay.
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  • But Nigeria's debt was largely accumulated under civilian governments,
  • The World Bank president, Paul D. Wolfowitz, announced on Friday an important step toward providing $37 billion in debt relief to 17 of the poorest countries, most of them in Africa. He said he had enough votes from donor countries on the board of the International Development Association, the bank arm that provides very low interest loans, to approve the measure.
  • The 17 countries will begin receiving the relief, worth close to $1 billion a year over 40 years, on July 1. They are Benin, Bolivia, Burkina Faso, Ethiopia, Ghana, Guyana, Honduras, Madagascar, Mali, Mozambique, Nicaragua, Niger, Rwanda, Senegal, Tanzania, Uganda and Zambia.
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