CALLING ON THE GURUS

Aug 24 , 2019.

An initiative that partners the government of Ethiopia with economic experts from Harvard University was unveiled on August 23, 2019, at the Addis Abeba Hyatt Regency Hotel. The event was attended by Yinager Dessie (PhD) (center), Governor of the National Bank of Ethiopia, Michael Raynor (left), the United States Ambassador to Ethiopia, Ricardo Hausmann (right) (PhD), Director of the Growth Lab at the Center for International Development at Harvard University, and Fitsum Assefa (PhD), commissioner of the Planning & Development Commission.

The three-year initiative that is supported by USAID will see the experts consult the government in the areas of monetary and fiscal policy stability, structural and sectoral transformation, job creation and poverty reduction.

Hausmann, who is a professor with a long record of advising developing countries on creating effective growth strategies and development policies, is leading the team of experts. He met with representatives from the Ministry of Finance including Brook Taye (PhD), senior advisor to the Ministry of Finance, to discuss development plans, investment policy and private sector participation strategy.

“The project is expected to contribute to the ongoing policy dialogue and to craft plausible professional recommendations for the economic reform programme, which was launched recently,” said Yinager at the launching ceremony.

Ethiopia’s economic policies in recent years have resulted in important infrastructure investments, but these gains were made at the cost of incurring significant external debt and without commensurate progress in job creation or private sector investment, said Michael. The Ambassador added, “While this process can only be led by Ethiopians, it can benefit from the support of Ethiopia’s friends.”

PUBLISHED ON Aug 24,2019 [ VOL 20 , NO 1008]