Blinken Puts Ethiopia on Notice for Reinstatement to AGOA


Blinken Puts Ethiopia on Notice for Reinstatement to AGOA

US Secretary of State Antony Blinken underscored the need for Ethiopia's leaders to meet clear benchmarks in order to be reinstated to AGOA and expressed his concerns that the exit of external forces from the Tigray Regional State remains incomplete. Blinken visited Ethiopia last week, bearing a 331 million-dollar humanitarian aid package, in light of the devastating impact of the war. The United States is the single largest humanitarian aid provider to Ethiopia providing north of 1.8 billion dollars since 2022. The concession of Human rights violations by both the federal government and TPLF was heralded by the secretary as a promising development. He said that the final decision will be an interdepartmental ruling by several government bodies in the US. The Secretary held a series of meetings with Prime Minister Abiy Ahmed and his deputy Demeke Mekonnen, Moussa Faki Mahamat, chairperson of the AUC, Workeneh Gebeyehu, executive secretary of IGAD and senior members of the TPLF. He stated that the US Government will be closely monitoring Ethiopia's progress in achieving transitional justice, indicating that this will be a key factor in determining the country's future relationship with the US. The US Government's close attention to Ethiopia's situation signals a heightened interest in the region and underscores the need for continued international attention to the ongoing challenges facing the country


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Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


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Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


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Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


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