Russia cancels Ethiopia’s $162 mln debt

Russia cancels Ethiopia’s $162 mln debt

The Ministry of Foreign Affairs (MoFA) disclosed Thursday that Russia has canceled Ethiopia’s $162 million debt owed to the former Soviet Union. Russia has forgiven the debt Ethiopia owes with a “Department for Development Package” to help Ethiopia boost the technical capability of the Melkawakena Power plant and equip Balcha Hospital with modern medical equipment….

Russian Foreign Minister Sergey Lavrov arrives in Addis Abeba

Russian Foreign Minister Sergey Lavrov arrives in Addis Abeba

The Foreign Minister of the Russian Federation Sergey Lavrov has arrived today (July 26) in Addis Ababa for a working visit to Ethiopia. Deputy Prime Minister and Foreign Minister Demeke Mekonnen and other high-level government officials welcomed the Russian Foreign Minister upon his arrival at Bole International Airport. During his stay in Ethiopia, Lavrov is…

Role of inclusive national dialogue for business activities discussed

Role of inclusive national dialogue for business activities discussed

Yonas Adaye (PhD), the recently appointed Commissioner of Ethiopian National Dialogue Commission stressed the need to have peace to conduct business activities in the country. Without a successful national dialogue and sustainable peace, investment-driven development is unthinkable, Yonas says. He also urged the need to cement collaboration among the Commission and AACCSA members towards the…

Ethiopia sees to implement China-Horn of Africa Peace, Dev’t Conference outcomes

Ethiopia sees to implement China-Horn of Africa Peace, Dev’t Conference outcomes

Ambassador Teshome Toga, Ethiopia’s Ambassador to China said Ethiopia will play an active part in implementing the outcome of the China- Horn of Africa Peace, Governance and Development Conference held last week. In-depth discussions including regional peace, development and governance in an atmosphere of unity, candor and mutual respect were raised during the conference held…

The prospects of liberalizing the financial sector

The prospects of liberalizing the financial sector

Educated in the UK Yared Haile-Meskel, is an investment consultant based in Addis Abeba, Ethiopia. Yared is the founder and CEO of YHM Consulting, a transaction advisory company.Yared Nigusie of Origins Business sat down with him to discuss the liberalization of the Ethiopian financial sector and other related issues.Excerpts: Origins Media: What are the possible…

Ethiopia’s economy predicted to grow at 6.6% despite challenges

Ethiopia’s economy predicted to grow at 6.6% despite challenges

The National Macroeconomic Council, which is led by Prime Minister Abiy Ahmed (PhD), said Tuesday that Ethiopia’s economy will grow at a rate of 6.6% in this Ethiopian fiscal year despite the challenges the economy has been facing. Members of the Council has discussed on the nine months macroeconomic performance of the country on Tuesday….

U. S. Ambassador Geeta Pasi Visits Hawassa, discuss AGOA issues

U. S. Ambassador Geeta Pasi Visits Hawassa, discuss AGOA issues

Geeta Pasi, Ambassador of the United States to Ethiopia has visited Hawassa. During her daylong visit, the Ambassador met with business leaders, workers, academics, and journalists to discuss about U.S. government programs to hear from them about their experiences in their respective fields. The Ambassador visited the Hawassa Industrial Park (HIP), the first sustainable textile and apparel industrial park…

President Recep Tayyip Erdoğan to visit Ethiopia

President Recep Tayyip Erdoğan to visit Ethiopia

His Excellency Recep Tayyip Erdoğan, the President of the Republic of Turkey said he is delighted to visit Ethiopia this month announcing his acceptance of the invitation of Prime Minister Abiy Ahmed (PhD). The President’s announcement came with a congratulatory message to PM Abiy Ahmed upon his election as the Prime Minister of Ethiopia for…

China praises mutual understanding, support in ties with Ethiopia

China praises mutual understanding, support in ties with Ethiopia

With mutual understanding and support on major international issues, Ethiopia and China have been working closely at global and regional levels, said a statement from the Embassy of People’s Republic of China in Ethiopia. “China speaks highly of the above cooperation. China will adhere to its consistent position and oppose external forces interfering in Ethiopia’s…

Ethiopia: workers face possibilities of losing jobs as expulsion from AGOA looms large

Ethiopia: workers face possibilities of losing jobs as expulsion from AGOA looms large

Ethiopia’s access to trade benefits under the African Growth and Opportunity Act (AGOA) is at stake as the United States threatens to review the eligibility of the country if the ongoing conflict in northern Ethiopia remains unaddressed.  Mixed opinions are circulating and if Ethiopia’s removed from the preferential trade agreement. Many industrial workers will more…