Addis Ababa, October 25, 2024 (FBC) – High-level Ethiopian delegation has participated in the Global Sovereign Debt Roundtable (GSDR) co-chaired by IMF Managing Director Kristalina Georgieva, World Bank President Ajay Banga, and Finance Minister of Brazil Fernando Haddad (G20 chair).

It is learned that the GSDR deliberated on how to make the debt restructuring process more effective.

Speaking at the Round Table, State Minister of Finance, Eyob Tekalign shared Ethiopia’s debt restructuring experience.

In this connection, he underscored the criticality of making interim debt suspension arrangements automatic when countries are making good faith efforts to resolve their debt issues.

Addis Ababa, September 22, 2017 (FBC) – Minister of Finance Ahmed Shede announced that the full implementation of macroeconomic reforms has led to improved economic performance over the past two months.

During a meeting held to review the performance of the macroeconomic reform over the past two months in attendance of Prime Minister Abiy Ahmed (PhD), Minister Ahmed Shide provided a detailed evaluation of the reforms’ impact, noting that they have fostered economic stability, and have been implemented in way that helped alleviate social burden on citizens.

Addis Ababa, October 2, 2024 (FBC) – Ethiopia has registered 8.1 percent economic growth during the concluded Ethiopian Fiscal Year, Planning and Development Minister Fisum Assefa revealed.

The macroeconomic committee met this morning to review the performance of the new macro policy measures introduced as part of the Homegrown Economic Reform agenda.

Planning and Development Minister, Fisum Assefa said the country also expects two digit growth during the current Ethiopian Fiscal Year as it has embarked on the implementation of comprehensive macroeconomic reform recently.

Addis Ababa, October 2, 2024 (FBC) – The National Bank of Ethiopia (NBE) announced that five companies that applied for licenses and fulfilled the minimum requirements set by the Bank per its Foreign Exchange Directive No. FXD/01/2024 have been granted licenses to operate as Independent Foreign Exchange Bureaus.

In a statement issued this afternoon, NBE disclosed the list of licensed Independent Foreign Exchange Bureaus. These are said to be Dugda Fidelity Investment PLC, Ethio Independent Foreign Exchange Bureau, Global Independent Foreign Exchange Bureau, Robust Independent Foreign Exchange Bureau, and Yoga Forex Bureau.

NBE mentioned that forex bureaus will play an important part in further developing and deepening Ethiopia’s foreign exchange market through their role in the buying and selling of cash notes of major convertible currencies.

Addis Ababa, September 30, 2024 (FBC) – Representatives from the World Bank have indicated that Ethiopia’s ongoing macroeconomic reforms have created significant opportunities to bolster financing for social protection initiatives.

During a meeting with officials from the Ministry of Women and Social Affairs, discussions centered on social protection policy reforms, the current social protection conference, and strategies for enhancing both urban and rural safety net programs through collaborative efforts.

Minister Ergoge Tesfaye (PhD) expressed gratitude for the World Bank’s support in advancing social protection initiatives, while also highlighting existing challenges in effectively reaching all sectors of the community and ensuring effective coordination among stakeholders.

Addis Ababa, September 22, 2024 (FBC) – Ethiopia’s growing economic and strategic position in Africa can present new opportunities for collaboration with Brazil and other member countries within the BRICS bloc, Brazil’s Ambassador to Ethiopia Jandyr Ferreira dos Santos told ENA.

Ethiopia along with the other new member countries officially joined the emerging markets of BRICS (Brazil, Russia, India, China and South Africa) in January 1, 2024.

The Brazilian Ambassador said Brazil celebrates Ethiopia’s recent accession to the BRICS and its commitment to contributing actively as a new member of this important international forum.

Addis Ababa, September 10, 2024, (FBC) – Mr. Ahmed Shide, Ethiopia’s Ministry of Finance,  today met with Dr. Leandre Bassole, the newly appointed African Development Bank (AfDB) Country Manager for Ethiopia and Deputy Director General for the East Africa.

In his welcoming remarks, Minister Ahmed Shide underscored the vital role of the AfDB’s support in recent years, especially in the infrastructure sector.

He stressed the importance of ongoing assistance from the Bank to advance Ethiopia’s reform agenda, highlighting the need for substantial investment and collaboration with key partners to achieve the government’s objectives.

Addis Ababa, September 4, 2024 (FBC) – The Minister of Foreign Affairs, Taye Atse-Selassie, stated that Ethiopia’s recent macroeconomic reforms have opened up new and promising opportunities for investors.

In his speech at the Ethiopia-China High-Level Business Forum being held in Beijing, the foreign minister emphasized that Ethiopia values the principle of mutual benefit advocated by China.

He assured that Ethiopia will work to further strengthen the strategic partnership of the two countries and explained that his country’s key geo-political location combined with its mineral wealth and human resource potential will increase investment opportunities.

Addis Ababa, September 4, 2024 (FBC) – Minister of Finance Mr. Ahmed Shide stated that Ethiopia has emerged as the top destination in East Africa for attracting foreign direct investment, solidifying its position as a beacon of economic growth and opportunity in the region.

The Finance Minister made this statement at the Ethiopia-China High-Level Business Forum being held in Beijing on the sidelines of the Forum on China–Africa Cooperation (FOCAC) Summit 2024.

On the occasion, Mr. Ahmed said that Ethiopia’s economy has recorded faster growth than other fellow African countries in the past six years in the face of various challenges.

Addis Ababa, September 4, 2024 (FBC) – Eyob Tekalegn, State Minister of Finance, met with Mr. Sarvesh Suri, IFC (International Finance Cooperation) Regional Industry Director for Africa, to discuss ongoing collaboration and the IFC’s significant contributions to Ethiopia’s development by engaging in various sector including, telecommunications, brewery, health, and trade finance, with technical support in areas like financial sector development, PPPs (Public-Private Partnerships), investment climate reform, and more.

During the meeting, State Minister Eyob expressed gratitude for the IFC’s $340 million investment portfolio and technical assistance in various sectors. He also briefed the Director regarding the recent macroeconomic reforms in Ethiopia, renewable energy projects, and future partnerships in manufacturing, Small & Medium-sized Enterprises and housing development.

Addis Ababa, September 3, 2024 (FBC) – Governor of the National Bank of Ethiopia (NBE), Mamo Mihretu and Executive Director of the National ID Program, Yodahe Zemicheal, had a discussion with Bill Gates on ways of deepening existing partnership on digital financial inclusion, especially focused on regional, gender and Islamic finance expansion.

According to NBE, the Gates Foundation reaffirmed its commitment to support the government in its drive to expand the use of Digital Public Infrastructure (DPI) as a critical enabler of digital transformation and advancing financial inclusion in Ethiopia.

Addis Ababa, August 31, 2024 (FBC) – Ms. Semereta Sewasew, Minister of State for Finance, had a discussion at her office today with Ramiz Alakbarov, the UN Resident and Humanitarian Coordinator, regarding the design of Sustainable Financing for the Durable Solution Initiative (DSI) in Ethiopia.

According to the Ministry of Finance, the Ethiopia Durable Solutions Initiative (DSI) offers a principled framework and platform for creating and executing long-term solutions to support internally displaced persons (IDPs) in Ethiopia, as well as host communities and areas of return, relocation, or local integration.

The Ethiopia Durable Solutions Initiative seeks to foster collaboration and coordination between Ethiopian government authorities at national, regional, and local levels and the international community.