Ethiopian debt repayment: Difference between revisions
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== References == | == References == | ||
# https://www.theguardian.com/uk/2002/dec/19/marketingandpr.famine. ''The Guardian.''19 Dec 2022. [https://web.archive.org/web/20130826191640/https://www.theguardian.com/uk/2002/dec/19/marketingandpr.famine Archived] from the original 26 Aug 2013. Retrieved 2 Nov 2024. | # https://www.theguardian.com/uk/2002/dec/19/marketingandpr.famine. ''The Guardian.'' 19 Dec 2022. [https://web.archive.org/web/20130826191640/https://www.theguardian.com/uk/2002/dec/19/marketingandpr.famine Archived] from the original 26 Aug 2013. Retrieved 2 Nov 2024. | ||
# https://www.theguardian.com/world/2002/dec/20/marketingandpr.debtrelief ''The Guardian. | # https://www.theguardian.com/world/2002/dec/20/marketingandpr.debtrelief ''The Guardian.'' 20 Dec 2022. [https://web.archive.org/web/20130826194248/http://www.theguardian.com/world/2002/dec/20/marketingandpr.debtrelief Archived] from the original 26 Aug 2013. Retrieved 2 Nov 2024. |
Revision as of 09:47, 2 November 2024
In Dec 2002, Nestlé demanded repayment of a US$6 million debt from the state of Ethiopia, as the country was facing its worst famine in nearly 20 years.1 This debt was compensation for a company nationalised by a previous military government in 1975, 27 years prior; the firm had been bought by Nestlé in 1986.
According to Oxfam, that money could feed a million people for a month. In context, just one month prior, the then-prime minister of Ethiopia Meles Zenawi had said that 6 million people needed emergency food aid with a possibility of that number rising to 15 million within months.
Nestlé initially rejected a settlement offer by the Ethiopian government of US$1.5 million - all they could afford. They eventually had to back down after a wave of public outrage where more than 8,500 people complained to the company via email.2
References
- https://www.theguardian.com/uk/2002/dec/19/marketingandpr.famine. The Guardian. 19 Dec 2022. Archived from the original 26 Aug 2013. Retrieved 2 Nov 2024.
- https://www.theguardian.com/world/2002/dec/20/marketingandpr.debtrelief The Guardian. 20 Dec 2022. Archived from the original 26 Aug 2013. Retrieved 2 Nov 2024.