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The IMF and World Bank declared Ethiopia’s debt unsustainable after repeated Eurobond defaults and weak exports. Their joint Debt Sustainability Analysis said missed payments in 2023 and 2024, falling reserves, and clustered obligations have worsened repayment risks. The report projects a $10.8 billion financing gap through 2028, to be covered by IMF and World Bank loans, private creditor relief, and urgent fiscal reforms.
Ethiopia stepped up efforts to diversify its economy. During visits to special economic zones, Ambassador Girma Birru, the Prime Minister’s macroeconomic adviser, highlighted manufacturing gains supported by infrastructure and policy reforms. He noted the country leveraged manufacturing, agriculture, mining, and tourism, while addressing investor concerns over electricity, financing, and inputs to accelerate growth.
Ethiopia tightened coffee export rules, raising capital requirements and mandating certified labs. Private exporters must hold at least Birr 15 million, while larger firms need Birr 20 million. All exporters must employ certified tasters. Authorities said the move will professionalize the sector and curb illegal activity, though critics warned it may limit competition for smaller exporters.
Ethiopia and the Netherlands agreed to shift from traditional aid to a human-centered development partnership. State Minister of Finance Semereta Sewasew emphasized blended finance, private sector participation, and investment in food systems, health, and clean energy. Dutch officials, led by Ambassador Christine Pirenne, pledged support for agribusiness and smallholder farmers. Both sides identified opportunities in trade, logistics, and green industries.
Ethiopia introduced a duty-free scheme for motorized boat imports to boost water-based tourism. State Minister of Tourism Seleshi Girma said the policy aimed to create jobs, encourage entrepreneurship, and diversify the sector. The initiative complemented infrastructure upgrades and skills programs, attracting local and foreign investment. Authorities planned new marinas and safety facilities while promoting sustainable practices to balance growth with environmental protection.
Ethiopian Airlines held a two-day showcase for the Bishoftu mega international airport, presenting plans to government officials, financiers, contractors, and investors, including the AfDB, Dar Al Handasah, and KPMG. CEO Mesfin Tasew said the event aims to align stakeholders on financing, risk allocation, and timelines, reinforcing Ethiopian Airlines’ position as Africa’s largest carrier.
AJN Resources began fieldwork at the Okote Gold Project in Ethiopia’s Adola Gold Belt, starting mapping and sampling and planning 600 samples and diamond drilling. The project, near the country’s largest gold producer, aims to expand AJN’s exploration portfolio and strengthen ties with local authorities. The company said the initiative could identify new mineral resources and boost its position in the gold sector despite financial challenges.
The National Bank of Ethiopia appointed Dr. Eyob Tekalign Tolina as Governor. He served as State Minister of Finance, headed the National Planning Commission, and worked with UNECA, COMESA, UNCTAD, and the World Bank. The NBE said his appointment supports its mandate on financial stability, inclusion, and growth.
