
Commentaries | Aug 01,2020
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]
Commentaries | Aug 01,2020
Fortune News | Jul 07,2024
Delicate Number | Aug 03,2024
Fortune News | Jan 28,2023
Sunday with Eden | Sep 03,2022
Dec 22 , 2024 . By TIZITA SHEWAFERAW
Charged with transforming colossal state-owned enterprises into modern and competitiv...
Aug 18 , 2024 . By AKSAH ITALO
Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...
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...
Jul 13 , 2024 . By AKSAH ITALO
Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...
Feb 16 , 2025
Madame Kristalina Georgieva, managing director of the International Monetary Fund (IM...
Feb 9 , 2025
This week, the African Union's (AU) annual summit in Addis Abeba is set to be more th...
Feb 1 , 2025
Urban renewal is seldom gentle to those on the receiving end of redevelopment. Take s...
Jan 25 , 2025
Grand ambitions have long driven Ethiopia's successive leaders, but they remain weigh...