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Economy2018 Federal Budget Approval During its 47th regular meeting on May 28, 2025, Ethiopia’s Council of Ministers reviewed and approved the draft budget proclamation for the 2018 fiscal year (Ethiopian Calendar). The budget, nearing two trillion birr, was prepared based on the Ten-Year Development Plan, the 2018-2022 Medium-Term Macroeconomic and Fiscal Framework, and an evaluation
EconomyLoan Agreement with Arab Bank for Youth Employment During its regular session on June 3, 2025, Ethiopia’s House of People’s Representatives (HPR) approved a loan agreement with the Arab Bank for Economic Development in Africa (ABEDA). The agreement provides $49.55 million in financing to support integrated agricultural industrial parks and create job opportunities for the
EconomyStaff-Level Agreement on ECF Review The International Monetary Fund (IMF) and Ethiopian authorities have finalized a staff-level agreement on the third review of the four-year $3.4 billion Extended Credit Facility (ECF) arrangement. Upon approval by the IMF Executive Board, Ethiopia will access approximately $260 million in financing, bringing the total disbursed under the ECF to
EconomyEconomic Roadmap for the Next Five Years During its 46th regular session, Ethiopia’s Council of Ministers gave the green light to a five-year economic and fiscal plan spanning 2026 to 2030. This roadmap is designed to steer the nation’s budgeting and policy efforts, focusing on boosting government income, managing public spending responsibly, and fostering a
EconomyWhat if your ID wasn’t just a plastic card you forget at home before every important errand—but a key to unlock financial services, social benefits, and even a better-functioning government? Well, Ethiopia is making that dream real, and the rest of Africa is taking notes. The country just launched its first-ever #ID4Africa forum, a three-day
Banking & FinanceEthiopian Investment Holdings (EIH) has achieved a significant milestone by participating in the recent Treasury Bills (T-bills) auction, a move that aligns with the National Bank of Ethiopia’s initiative to broaden access to the T-bills market by including non-bank investors such as institutions and retail participants. The auction marks a pivotal step in Ethiopia’s efforts
EconomyEthiopia just wrapped up its Invest in Ethiopia High-Level Investment Forum 2025 with a bang — securing over 1.6 billion USD in investment commitments and sending a clear message: the country is open for business, and it’s not playing small. The two-day forum, held in Addis Ababa, brought together heavyweight investors, top government officials, and
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of its fifth foreign exchange auction. According to the official statement, the weighted average rate of all successful bids reached 132.9643 Birr per US Dollar. A total of $60 million was made available through the auction, with 16 banks receiving their requested foreign exchange allocations.
Banking & FinanceWashington is on a diet, and Africa just got told dinner might be delayed. The U.S. government’s proposed FY2026 budget, which includes a $8 billion cut in funding for the State Department and USAID compared to FY2023, is more than just an American fiscal choice. For Africa, where development aid still plays a starring role
Banking & FinanceEthiopia’s Council of Ministers held its 44th ordinary meeting and came out swinging with a series of important decisions that touched everything from green economy funding to tariff regulations, air agreements, and even foreigners buying land — yes, that last one raised some eyebrows too. 1. Money Talks: Italy and IDA Loans Get the Green
Banking & FinanceEthiopia expects to reach a preliminary agreement with the International Monetary Fund (IMF) this week on the third review of its $3.4 billion loan program, according to State Finance Minister Dr. Eyob Tekalign. Speaking during the IMF and World Bank Group Spring Meetings in Washington, Dr. Eyob noted that formal negotiations with bondholders are likely
EconomyEthiopia’s struggle with its external debt continues to weigh heavily on its international credit standing, even as signs of domestic financial stabilization have begun to emerge. Global ratings agency Fitch has maintained Ethiopia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘RD’ (Restricted Default) — the same level it assigned after the country failed to pay
