Ethiopia to Pay Off U.S. Firms
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Associated Press
NAIROBI, Kenya — Ethiopia’s Marxist government will pay $7 million in compensation to American companies for property nationalized after the 1974 revolution, the U.S. Embassy in Ethiopia said today.
An embassy official said the compensation agreement was signed in Addis Ababa by acting U.S. Charge d’Affaires Joseph O’Neill and Ethiopia’s commissioner of compensation, Getahon Terrefe.
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