Full Steam Ahead on Ethiopia’s Recovery Plans

Ethiopia’s Prime Minister Abiy Ahmed has vowed to continue opening up the economy and country, despite a recent coup attempt triggered by his ambitious reform agenda. Ethiopia’s prime minister inherited an economy that boasted the fastest growth rates in Africa and one of the fastest growing non-oil economies in the world. Since assuming power in April 2018 he has sought to tackle the country’s growing debt burden and currency crisis, by renegotiating loans and seeking financial support from external partners in the Gulf and the west, including $3bn in loans and investment from the UAE.  Ahmed Soliman, a research fellow at Chatham House’s Africa Programme focused on the Horn of Africa, says that the attacks have strengthened Abiy’s resolve to pursue domestic security reforms, end inter-ethnic violence, and secure the integrity of the upcoming 2020 elections. He adds that there is likely to be a continuation of Abiy’s policies of private-sector led liberalisation and the courting of new investment.

SOURCES: AFRICA BUSINESS MAGAZINE

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