African Ministers Call for $100b Support

The African Ministers of Finance have called for 100 billion dollars in support to halt the spread of the Novel Coronavirus (COVID-19) pandemic throughout the continent. Out of that amount, 44 billion dollars will go toward debt relief for all African countries, according to their plea. The ministers warned during a video meeting that the COVID-19 crisis is deep and that recovery will take a long time. In their meeting, the ministers focused on several main issues, including the health and humanitarian crisis; the need for debt relief and fiscal stimulus for all countries; liquidity relief to the private sector and in particular the service sectors, especially tourism, airlines and small  and micro enterprises. The ministers specifically called on the International Monetary Fund (IMF) to support the need for additional resources, recognising that the IMF plans to double access under its emergency financing facilities. Algeria, Egypt and South Africa are the three countries most affected by the spread of the virus so far. The Ministers also suggested that if the crisis were to continue, an additional 50 billion dollars may be needed for the recovery process in 2021 in anticipation of interest payments.


Arcane Markers

Hamere Berhan' at old post office prints books using ancient paper made from animal skin called 'Birana' .  The printing press is part of EOTC Ethiopian Tewahdo Orthodox Church which has had scribes for close to two millenia. Shortage of paper is still a problem in Ethiopia all newsapapers in the country are printed at one printing press , Birhana Selam around 4 kilo. This due to the fact there is a shortage of paper supply , no other printing press the government owned one have the forex to i...


Green Shift

A palm tree is moved to a new location for replanting around Meskel square. The global effort to battle man made climate change has gained steam over the last few years. African countries have shifted gear in tryin to unlock climate financing from the global north. With debt to GDP ratios averaging around 62pc continent wide, many countries are utilizing the climate narrative to get debt structuring. This one of the appeals of the PM of Ethiopia when he addressed the AU summit a month ago...


Strucural Makeover

Area around Ambassodor famous for its souvenir shops is getting demolished for real estate development. The A.A city administiration has ramped up efforts to remodel the city' s architecheure over the last few months. The capital was established by his majesty Emperor Menelik 137 years ago. He has also introduced the first telephone, car , hotel, hospital and host of other things to the country. A construction project headed by the mega projects office is 70 pc complete to commemorate his victor...