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EconomyDuring the Great Recession, while people were losing jobs, tightening budgets, and canceling weekend plans, one small thing kept flying off shelves: lipstick. Not groceries, not rent, not fuel, but lipstick. In a time when people were cutting back on big expenses and even many small ones, younger women (aged 18–40) in the U.S. were
EconomyRemember when Ethiopia’s FX parallel market premium nearly vanished last year? That moment of relief didn’t last. Fast-forward to May 2025, and the spread is back—widened to around 17%, despite some of the country’s boldest financial reforms in recent memory. Let’s rewind. In July 2024, Ethiopia pulled the trigger on a long-awaited reform: adopting a
The United States has confirmed that it will maintain its humanitarian and development aid to Ethiopia, but under a newly restructured framework where the U.S. State Department will now oversee USAID operations directly. According to a statement from the U.S. Embassy in Addis Ababa, the change, effective July 1, 2025, is part of a broader
EconomyThe Government of the Federal Democratic Republic of Ethiopia and the World Bank have signed a significant USD 1 billion Financing Agreement under the Second Sustainable and Inclusive Growth Development Policy Operation (DPO). The financing, composed of a grant and a concessional loan, is aimed at supporting Ethiopia’s ongoing economic reform agenda and promoting inclusive
EconomyEthiopia’s bold economic reforms have won another vote of confidence from the International Monetary Fund (IMF), which on July 2, 2025, approved a fresh disbursement of US$262.3 million (SDR 191.7 million). This decision comes as the IMF Executive Board completed its third review of Ethiopia’s 48-month Extended Credit Facility (ECF) arrangement and concluded the country’s
Banking & FinanceIn a major step toward stabilizing its public finances, the Ethiopian government has finalized a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC) under the G20 Common Framework, securing debt relief exceeding USD 3.5 billion. The agreement formalizes a deal reached in principle back in March 2025 and marks the successful end of
Banking & FinanceThe Monetary Policy Committee (MPC) of the National Bank of Ethiopia (NBE) held its third meeting on June 23, 2017, to review the country’s economic outlook and set monetary policy directions. The Committee, responsible for ensuring price stability and guiding Ethiopia’s financial system, analyzed recent trends in inflation, economic growth, financial markets, fiscal policy, and
BusinessIn a major step toward ensuring agricultural self-sufficiency and reducing reliance on fertilizer imports, Ethiopia is set to sign a landmark agreement with Nigerian billionaire and industrialist Aliko Dangote to build a fertilizer factory in the Somali Regional State, Gode area. Prime Minister Abiy Ahmed (PhD) announced that the $3 billion deal will be formalized
BusinessEthiopia has received a record $5.1 billion in remittances in the first nine months of the current fiscal year, according to the Ethiopian Diaspora Service (EDS) — a milestone that underscores the vital role the Ethiopian diaspora continues to play in supporting the country’s economy amidst ongoing reforms. The announcement was made by Wondwosen Terefe,
BusinessIn a decisive policy shift, the Ethiopian government has officially ended its longstanding fuel subsidy, fully liberalizing fuel prices to reflect international market rates. The Ministry of Trade and Regional Cooperation confirmed that gasoline and jet fuel prices were deregulated as of May 9, 2025, followed by diesel on June 4, 2025. The reform marks
BusinessEthiopia has launched a comprehensive portfolio of investment projects valued at more than $13 billion, signaling a major push to attract private capital across agriculture, energy, manufacturing, finance, and infrastructure. The pipeline, outlined in the newly released “Invest in Ethiopia 2025” Deal Book, includes dozens of projects positioned as “investment-ready,” with financing models ranging from
EconomyRecord Budget Proposal Presented to Parliament Ethiopia’s House of People’s Representatives began deliberations on the draft budget for the 2025/2026 fiscal year during its 35th regular session. Finance Minister Ahmed Shide presented a record ETB 1.93 trillion budget, marking a 34% increase from the previous year. The minister attributed this ambitious figure to significant economic
