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HomeEthiopian NewsEthiopia says it is working on more "homegrown economic reform" measures

Ethiopia says it is working on more “homegrown economic reform” measures

More Private investment among policy goals in Ethiopia’s additional “homegrown economic reform” measure that is under work 

Ahmed _ Economic reform
Ahmed Shide, Minister for Finance. (Photo : Public Domain)

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Ethiopia says it is working on more “homegrown economic reform” measures.  The state media, on Saturday, cited Ahmed Shide, the Minister for Finance, as saying that preparations are underway for more reform policy measures.

Based on the report, the government aspires to achieve multiple successes from the intended reform measures.  

Filling macro-economic gaps through a range of measures (including enhancing private investment), facilitating economic recovery reconstruction, controlling price hikes and relegating Ethiopia’s debt burden to a medium level are among the goals that the government claims to aim for by introducing more economic reform measures. 

The government also claims that more reform measures are needed to ensure the continuity of results achieved since the introduction of “homegrown economic reform.” 

It is indicated that the economy has been under pressure due to external and internal factors. 

It is to be recalled that, with the “homegrown economic growth plan,” the Ethiopian government intensified the privatization of the Ethiopian economy. 

Sectors of the Ethiopian economy that have been protected from foreign investment hither to including Telecom were opened for expatriate investors. 

Recently, Prime Minister Abiy Ahmed’s government-appointed passed a decision to open up the banking sector to foreign investors despite an outcry from Ethiopians. 

In what seems to be a preparation for the intended deepening of privatization, Prime Minister Abiy Ahmed removed the former National Bank of Ethiopia governor, Yinager Dessie, and replaced him with a former World Bank Staff, Mamo Mihretu.

Ethiopian Minister for Finance, Ahmed Shiede, has been recently meeting with IMF and World Bank officials as well as meeting with state actors in the United States and Europe.  More recently he visited China but China does not seem to be influential in the economic reform measures. 

“Homegrown economic growth” through more privatization and reform work that is said to be under preparation seems to be the result of extensive consultation with external actors. 

When the United States Secretary of State, Anthony Blinken, visited Ethiopia a few weeks ago, he unveiled $330 million in “aid” to Ethiopia. 

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2 COMMENTS

  1. Ethiopia & Privatization: Do you fix what is not broken? Is privatization in Ethiopia’s interest? What is in it for Ethiopia? Who is/are pushing for privatization & why? Aren’t Ethiopian enterprises doing well? So, why does the White Supremacist West [WSW] link loan/aid to privatization?

    Privatization & National Security: Ethio-Telecom/Rail/Electric/Petroleum/Mines/Energy, Ethiopian Airlines, Agriculture, etc. should be OFF LIMITS to privatization. Direct or proxy foreign control of such public property can trigger Ethiopia’s Collapse.

    EthioTelecom [ET]: Western Experts ‘evaluated’ it at ≤60% of its real value. Thanks to Team Frehiywot [TF], its value has soared to over 500% of what it was back then. So, leave ET to TF! Excellent Job! Hats off to TF! Ethiopia is better off without the WSW’s loan!

    Ethiopian Airlines [EA]: EA is more of an Achilles heel & liability than an asset. Why buy planes & operate them just to pay the loan with interest? How many debt-free planes does Ethiopia own? Why not ‘stream line the fleet’ than overstretch the airline?

    The WSW Failed Miserably in Triggering Ethiopia’s Collapse: It sponsored TPLF’s War; imposed drastic Birr devaluation; imposed embargo/sanctions; cancelled loans/aid; etc. That was at a time Ethiopia was most vulnerable: looted by TPLF, COVID, drought, etc.

    Ethiopia & the WSW: The WSW’s ONLY interest is turning Ethiopia in to the WSW’s Proxy Puppet for its grip on the Horn of Africa. So, its hardball Carrot-and-Stick Policy on Ethiopia will keep worsening till its Muppet Puppet Dog [TPLF] is back in power.

  2. Why did you fail to post about the recent brutal murder of a monk priest in Gonder? Many will have a genuine reason to attribute your failure to talk about it to a pure ethnic-based motive.

    Do you just have to choose the death of an Amhara religious elite or the displacement of any Amhara ethnic member to talk miserably about it by adding radical Amhara nationalist thoughts?

    ​The death of His Grace Abune Aregawi is a result of well-calculated murder from food poisoning. If your economic interest is at risk, Amhara religious and secular elites could murder anyone including their own people, Amhara ethnic members like this humble and well-educated church father. The death of His Grace Abune Aregawi(Formerly known as Abba Hailemariam) is shockingly disturbing.

    His grace was badly disfigured by the man-made illness and sufferings he endured until the last minute he gave up his soul. Many people failed to recognize, his face, him as his grace was badly suffering that transformed him into an unrecognizable state.

    This satanic practice of food poisoning has sadly become part of the Ethiopian Orthodox Tewahedo church’s most heroic wisdom. Many dearest scholars have succumbed to death due to this satanic act. This has to stop and culprits must be brought to justice. This is all about jealousy and cupidity for power and economic might.

    His Grace Abune Aregawi was highly educated, cultured, humble, good at conflict resolution & reconciliation, and kind-hearted. He loved the church and He also advocated for the church servants when others were saying it is enough that we have already given to them. It is because His grace was spent overseas where human right is well respected at least relatively better than in Ethiopia.

    May His soul rest among the most honored Church Fathers like Patriarch Abune Tekelehaimont. Amen!!!!!

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