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

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]

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

[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

An Agenda for Tackling the Debt, Development Crises

Following the Fourth International Conference on Financing for Development in June, w...

The Global South Should Claim the Climate Mantle at COP30

Of all the seismic geopolitical shifts in recent years, perhaps the most striking is...

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

The Capital Market May Be Too Shallow to Swim In. Beware.

Aug 23 , 2025

Banks have a new obsession. After decades chasing deposits and, more recently, digita...

Capital Market Ambitions Face Credibility Test Over Conflicted Oversight

Aug 16 , 2025

A decade ago, a case in the United States (US) jolted Wall Street. An ambulance opera...

Squeesing Stones for Silver, the State Pulls While Taxpayers May Duck

Aug 9 , 2025

In the 14th Century, the Egyptian scholar Ibn Khaldun drew a neat curve in the sand....

Saplings Should Not Be Rushed Like Election Rallies

Aug 2 , 2025

At daybreak on Thursday last week, July 31, 2025, hundreds of thousands of Ethiop...

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

Kindness That Came Full Circle

Some lives are measured in wealth, others in status, but the richest lives are measured in kindness. My European mentor, more like a father...

When Trust Becomes a Thief's Weapon

In recent months, I've spoken to several contacts who fell victim to a troubling online scam—one that hijacks personal Telegram accounts,...

Life Matters

Birth of African Icons

As I walked through the market in search of a school bag for my children, I noticed something striking: almost every bag, lunchbox, and t-sh...

A Day at the Tax Office

I have reached a conclusion: many people struggle to sit quietly and let public servants do their work. Instead, interruptions occur every...