FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo

Finance Minister Ahmed Shide inked a comprehensive 13-article agreement with the Development Partners Group (DPG), a coalition of donors led by the United Nations and the United Kingdom. The rite, held at the Sheraton Addis Hotel, on Taitu St., was also attended by state ministers Eyob Tekalegn (PhD) and Semerta Sewasew, alongside the Minister of Planning & Development, Fitsum Assefa (PhD). The pact outlines a peculiar set of concessions, and a series of commitments to capitalise on the peace dividends stemming from the Cessation of Hostilities Agreement signed between the Federal government and the TPLF, with a keen eye on addressing the lingering insecurity and instability within the Oromia and Amhara regional states.


However, the core of the agreement anchored on ambitious economic policy objectives intricately woven into the broader framework of peace and stability. In a significant nod to ongoing dialogues with global financial institutions such as the IMF and the World Bank, as well as the G20 credit committee, Ethiopia has positioned itself to embark on a "major package of economic reform." This includes substantial debt relief and external financing, underlining the depth of the commitment to overhaul the economy. Pledges were made to promote a transition towards a more open, market-oriented, and private sector-led economy within the forthcoming 12 months. The mutual accountability pact, signed with the DPG representatives, Ramiz Alakbarov and Paul Walters, signifies the pressure on the federal government to undertake profound economic shifts and reveals the critical role of international cooperation.




PUBLISHED ON Mar 16,2024 [ VOL 24 , NO 1246]

How useful was this post?

Click on a star to rate it!

Average rating 5 / 5. Vote count: 1

No votes so far! Be the first to rate this post.



Related Posts

Editors' Pick

Exclusive Interviews

State Enterprises from Oracles to Apprentices

Dec 22 , 2024 . By TIZITA SHEWAFERAW

Charged with transforming colossal state-owned enterprises into modern and competitiv...

Agenda

Rising Costs, Inflation Threaten Insurance Industry

Aug 18 , 2024 . By AKSAH ITALO

Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...

Agenda

BREWING DISCONTENT

Jul 28 , 2024 . By TIZITA SHEWAFERAW

Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently swit...

Fortune News

Electric Vehicle Push Leaves Investors in the Lurch

Jul 13 , 2024 . By AKSAH ITALO

Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...

Commentaries

Tariffs Protectionism's False Promises

The world economy awaits with dread the arrival of Donald Trump's trade tariffs. Trum...

Can Building Public Tech Infrastructure Turn to Dystopian Dangers?

In recent years, the concept of Digital Public Infrastructure (DPI) has gained consid...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

Banks Struggle to Lend as Branches Bloom, Coffers Wither

A severe cash shortage squeezes the economy, and the deposit-to-loan ratio has slumpe...

The Year That Falls Short in Lofty Ambitions, Brittle Realities

Jan 4 , 2025

Time seldom passes without prompting reflection, and the dawn of 2025 should nudge Et...

The Bureaucrats Turn to Masters of Misrule, Architects of Uncertainty

Dec 28 , 2024

On a flight between Juba and Addis Abeba, Stefan Dercon, a professor of economic poli...

Addis Abeba's Gleaming Facade Masks a Parched Metropolis

Dec 21 , 2024

The main avenues and thoroughfares of Addis Abeba have undergone an impressive faceli...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

Pride Overpowers Empathy, Civility

Last weekend, my family and I set out for a simple visit to relatives in the Old Airport neighbourhood. What should have been a routine trip...

A Brief Encounter Turned to a Lifetime of Inspiration

Reading about Jimmy Carter, the 39th President of the United States, left a lasting impact on me in law s...

Life Matters

The Burden of Beauty, Pressure for Perfection

Ethiopia's kaleidoscope of skin tones reflects its rich diversity. Complexion varies not just between ind...

Raising Children Takes a Village

Parenting is a journey, filled with unexpected challenges and moments of reckoning. Recently, I found myself confronting a dilemma that test...