Ethiopia to construct Africa’s largest airport near Addis Ababa
The airport will have a capacity of 100 million passengers annually and is expected to be completed in 2029.
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Ethiopia
Somalia and Ethiopia to resume negotiations in Turkey next week
Turkey is mediating talks between Somalia and Ethiopia to resolve tensions stemming from Ethiopia’s port deal with Somaliland.
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Ethiopia takes step towards financial liberalization
Ethiopia is undergoing a financial transformation as the central bank starts licensing independent foreign exchange bureaus.
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Ethiopia’s birr weakens to 107.9 per dollar
As part of efforts to manage high inflation and foreign currency shortages, Ethiopia’s central bank held an auction, setting the exchange rate at 107.9 birr per U.S. dollar with participation from 27 banks.
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Ethiopia faces new disaster: Landslide kills 11 people
The latest disaster has claimed the lives of at least 11 people in the Wolaita zone, prompting a search and rescue operation.
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Ethiopia to save $4.9B from debt restructuring, state minister says
Ethiopia will secure $4.9 billion in debt repayment relief upon completing its current restructuring efforts, State Finance Minister Eyob Tekalign announced on Friday. The East African nation is reviving its long-delayed debt overhaul with the support of a new International Monetary Fund (IMF) financing program. “We will finalize agreements with each creditor country over the
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Dozens of Ethiopian businesses closed for inflated prices
Ethiopian authorities have closed dozens of businesses in Addis Ababa and Oromiya for hiking prices after the central bank floated the national currency.
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IMF approves $3.4B bailout for Ethiopia
Ethiopia has been grappling with severe foreign currency shortages and high inflation
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Ethiopia eases foreign exchange curbs to attract bailout
The move aims to attract a $10.5 billion bailout package from international lenders to address the country’s economic crisis, including high debt, inflation, and foreign currency shortages.
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River tragedy: 19 killed in Ethiopia boat capsize
At least 19 people have died after a boat capsized on the Tekeze River in Ethiopia’s Amhara region, with several others still missing.
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