The International Monetary Fund (IMF) has urged Ethiopia to reconsider its timeline for completing the Renaissance Dam due to serious economic impact. The organization said the country should slow the construction of what would be Africa’s largest hydropower plant in order to avoid exhausting funds for other important projects and the economy.
“I think there’s a need to rethink some of those projects a little bit to make sure that they don’t absorb all domestic financing just for that project,” IMF country representative Jan Mikkelsen said. “If you suck in all domestic financing to just a few projects that money will be used for this and not for normal trade and normal business.”
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