FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds

Fortune Logo

Last week, Finance Minister Ahmed Shide conversed closely with Ousmane Dione, the World Bank's country director for Eritrea, Ethiopia, South Sudan, and Sudan at the Hyatt Regency Hotel, on Africa Avenue (Bole Road). The occasion marked the launch of the World Bank's Country Climate & Development Report (CCDR) for Ethiopia, which pronounced the country's need for 27.6 billion dollars in financing over the next quarter-century to combat the effects of climate change.


The report paints a grim picture of Ethiopia's escalating climate risks, forewarning that these could exacerbate existing issues. Amid these concerns, World Bank economists reiterated the call for Ethiopia to embrace greater economic liberalisation and a market-led policy approach as antidotes. The Finane Minister of a country with disproportionate efforts in responding to climate change effects, Ahmed stressed his country's need for "adequate financing" to support its green economy. The discussions come at a time when Ethiopia is also engaging with senior representatives from the International Monetary Fund (IMF), negotiating to finalise a set of economic reforms. These reforms are crucial for accessing a much-anticipated 3.5 billion dollar package. Speculation around foreign exchange liberalisation has been rampant, with no clear direction from the central bank, despite forecasts from credit rating agencies, such as Fitch, anticipating a gradual depreciation of the Birr.


These signal a busy period ahead for Minister Ahmed and his team as they deal with international finance, climate change, and economic policy reforms.



PUBLISHED ON Mar 02,2024 [ VOL 24 , NO 1244]

[ratemypost]


Related Posts

[ssba-buttons]

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.

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

Ethiopia Can't Wait for the Market to Code Its Future

At a technology conference in Nairobi a few years ago, a product director at one of A...

Reclaiming Global Value Chains Amidst Hard Currency Headwinds

Exporters of fruit, vegetables, and herbs move some of the most perishable goods thro...

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

Logistics Reform Should Deliver More Than Market Entry by Foreign Capital

Jun 13 , 2026

The recent policy decision to fully open freight forwarding to foreign capital may be...

The Elections Offered Order at the Centre, Silence at the Edges

Jun 6 , 2026

For a political veteran as controversial as Getachew Reda, last week's national elect...

Mistaking Development Theatre for Public Trust Has a Cost

May 30 , 2026

Tomorrow, millions of Ethiopians are expected to vote in the seventh national electio...

Tax Push Tests How Much Pain Taxpayers Can Bear

May 23 , 2026

An International Monetary Fund (IMF) team has spent weeks in Addis Abeba conducting t...

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

The Cost of a Culture That Doesn't Read

In Ethiopia, one of the most surprising statements heard in everyday conversation is...

A Journey of Survival, Forgiveness, Giving Back

Some stories arrive without fanfare, yet stay with us long after they are told. They...

Life Matters

The Things We Can't Control

Lately, two thoughts have occupied my mind. At first glance, they seem unrelated. One is about comebacks. The other is about how parents vie...

We Don't Need Cover Letters We Need Conversations

We live in an age that celebrates efficiency, automation and convenience, yet the modern job hunt remains...