Ethiopia plans to reduce public debt gradually by implementing policies to cut fiscal deficits and limit new borrowing. Public debt rose 9% YoY to USD 68.86 bln by June 2024, with external debt at USD 28.89 bln and domestic debt growing 12% in USD terms. Debt-service payments for 2023-24 totaled USD 2.21 bln, with external debt service at USD 1.27 bln. External debt exceeded 179.8% of exports, surpassing the 150% threshold.