Ethiopia has taken no commercial loans in the last eight years. The remark was made by the Minister of Planning and Development, Dr. Fitsum Assefa. presented the 

In the third 100-day and nine-month performance report to the Council of Ministers, Dr. Fistum highlighted that the economic reforms implemented over the last seven to eight years have yielded tangible results, allowing the country to recover from the economic crises it faced and resume its natural growth trajectory.

By moving away from high-interest commercial borrowing, Ethiopia has successfully navigated a period of intense global economic pressure, recovering from various crises to resume what the Minister described as a "natural growth trajectory."

The strategy behind this "debt fast" involves a sophisticated overhaul of the old, restrictive political economy. In its place, the government has launched a modern Capital Market and empowered a committee of seasoned experts to lead a modernized monetary policy. By focusing on high-quality, sustainable growth and domestic financing alternatives, the report suggests that Ethiopia is finally executing development projects on its own terms, ensuring that the country’s progress is no longer chained to the volatile demands of external commercial lenders.