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]

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