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IMF Executive Board Approves US$240.6 Million Arrangement for the Federal Democratic Republic of Ethiopia

The Executive Board of the International Monetary Fund (IMF) today approved a 14-month, SDR 153.755 million (about US$240.6 million) arrangement under the Exogenous Shocks Facility (ESF) to help Ethiopia cope with the effects of the global recession on its balance of payments. The arrangement (115 percent of Ethiopia’s quota) was approved under the high access component of the ESF
Comment:In 17 years the Woyane revolution managed to uproot the derge regime and in the last 18 years the woyane revolution managed to build an economy. Ethiopia today has an economy to talk about, write about and think about. Ethiopia’s economy thanks to EPRDF has arms to sway and fingures to squeeze.The growth over the past years may not have prevented the effect of global recession on the country’s ability to generate hard currency, but it has saved millions from starvation and created millions of middle income families. That is why the IMF is pouring money in to the economy! They have seen the beginning and they like what they see!

Vacant Positions for expatriate academic staff at Mekelle University

Mekelle University is a dynamic young university located in northern part of Ethiopia about 780 km from the capital, Addis Ababa. The university runs more than 50 undergraduate and postgraduate programs. The University seeks to recruit qualified and experienced expatriate academic staff in different fields of studies to work as instructors and researchers for a two-year, fixed term, renewable appointment.

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Current Events

VOA Tigrigna interview with an inspiring young 11 years old Ethio-Canadian girl Hana Godefa who is working hard to send over 200k pencils to Ethiopia

Interview

(forward past news)

Eritrea’s militarization

It is hardly surprising that the respected Military Balance 2009, a publication of the prestigious International Institute of Strategic Studies in London, has identified Eritrea as one of the most highly militarized states in the world today. Indeed, it ranked Eritrea in second place See Also:
A Week in the Horn
(28.08.2009)

AEUP President Hailu Shawel said his party is ready for Election 2010 and is saddened by folks like "Ginbot 7!"

Thought for Today

Courage doesn't always roar. Sometimes courage is the quiet voice at the end of the day, saying, "I will try again tomorrow. by Mary Anne Radmacher

TDA Family Festival Celebrated in Mekelle from August 22-25

Interview with Ato Mule Tarekegne from Ethiopian Embassy Washington DC. Tsehaye Debalkew from Selam Radio ask Ato Mule on wide range of topics that deals with Diaspora Ethiopians. Fast forward to 12:50

Interview

Bekele wins unprecedented world distance double

News & Analysis

Frazer suggetions to Ms Clinton and grading Clinton on her trip
Four Ways to Help Africa

By JENDAYI E. FRAZER :- Secretary of State Hillary Clinton recently concluded her maiden trip to sub-Saharan Africa carrying in her words "a tough message lovingly delivered." Simultaneously, U.S. Trade Representative Ron Kirk visited Kenya, Ethiopia and Senegal also touting, in his words, "a tough love" message for Africans...

Africa and the Global Economic Crisis
From July 6-8, GMF and the Evian Group at the International Institute for Management Development (IMD)organized a conference titled "Africa in the Global Crisis & Trade Dis-Order: Transatlantic Policy Options, Regional Integration, and Opportunities for Business Leadership" in Lausanne, Switzerland. The conference brought together U.S., European, and African business leaders....

what do opposition parties say about the upcoming national election

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Fighting Poverty: A Success Story!

The recent visit by Professor Jeffrey Sachs, Special Advisor to the UN Secretary-General and Millennium Village Project (MVP) Co-founder to the Koraro MVP site... and what Jeffery Sachs said in regard to Koraro, a small village in Tigrai, that has been selected a s a study case on ways and means to fight poverty.

Watch

(source waltainfo.com) Thank you Waltainfo!

Ethiopia: Reform Stagnant, Productivity Level Very Low - WB Investment Report

Addis Abeba — Despite favorable perception by investors, Ethiopia's productivity levels remain very low when compared to almost all peer groups in Africa,..."The limited progress in raising productivity has contributed to Ethiopia's current macroeconomic challenges, in particular the poor supply response to incentives and infrastructure spending, and the growing shortfall between imports and exports," it noted.

Comment:- Supply and demand is economic 101 but what exactly is Ethiopia’s economy demanding that is causing high demand in hard currency? Are experts expecting Ethiopia to satisfy the supply side of the equation from internal home grown industry or is Ethiopia as non oil producing country somehow expected to raise hard currency from agricultural products to cover its expense for oil and other capital goods? In the latter case we think it is trying and on target but it takes time! Sugar cane requires time to mature!

Somali region delegation visit a success
Authorities from the Somali Regional State of Ethiopia are visiting London from 21st to 26th August. 2009.The delegation is led by H.E. Mr Abdulfatah Abdulahi, Chairperson of the ruling party in the region,

See Also: Communiqué from the leaders of the Diaspora community of the Somali regional state of Ethiopia.

Articles