Addis Ababa, June 9, 2025 (FMC) – The Ministry of Finance has announced significant strides in the quality and pace of public project execution, attributing these gains to the government’s ongoing macroeconomic reform agenda.

In a briefing on the status of key reforms and recent economic developments, Finance Minister Ahmed Shide highlighted notable improvements over the past seven years in both the implementation speed and quality of government-led projects.

As a prominent example, he cited the construction of more than 22,000 kilometers of roads currently underway, underscoring the government’s unwavering commitment to infrastructure development. He also pointed to progress in irrigation initiatives, with several projects nearing completion and already showing promising results . . . .

Addis Ababa, June 9, 2025 (FMC) — The Ministry of Foreign Affairs, in collaboration with the Ministry of Finance, the Ethiopian Securities Exchange, and Ethiopian Investment Holdings, officially launched the Diplomatic Guide for the Home-Grown Economic Reform Agenda this evening in Addis Ababa.

Speaking at the event, Minister of Foreign Affairs Gedion Timothewos emphasized the importance of acknowledging the successes of Ethiopia’s home-grown economic reforms and aligning the country’s diplomatic engagement accordingly.

He noted that the reform packages already implemented have yielded significant progress and underscored that the newly unveiled guide will serve as a strategic framework—equipping Ethiopian diplomats to adapt to evolving circumstances and carry out their responsibilities more effectively.

Addis Ababa, June 7, 2025 (FMC) – Finance Minister Ahmed Shide expressed that Ethiopia’s inclusive macroeconomic reforms are delivering remarkable outcomes.

During a briefing on the country’s current economic performance, the minister stated that the comprehensive macroeconomic reform program, implemented with thorough preparation since the beginning of the current Ethiopian fiscal year in July, has led to significant progress.

The minister also emphasized that key policy shifts, including the adoption of a market-based foreign exchange system, the implementation of new fiscal and monetary policies, and legal reforms promoting investment, have collectively contributed to the positive results.

Addis Ababa, June 06, 2025 (FMC) — The United States Ambassador to Ethiopia, Ervin Massinga, has reaffirmed his governments’ steadfast commitment to supporting Ethiopia’s ambitious macroeconomic reforms.

The ambassador highlighted the trade and investment ties between the two nations.

Ethiopia has historically operated under a restrictive economic framework where private sector participation was largely constrained; he commended the Ethiopian government’s bold move toward redefining the status quo.

Specifically, the ambassador praised the recent exchange rate reform, noting its pivotal role in propelling Ethiopia’s economy forward.

Addis Ababa, June 06, 2025 (FMC) — Prime Minister Abiy Ahmed of Ethiopia, in a televised interview, emphasized that his country is experiencing a highly visible and tangible transformation across multiple sectors.

In the interview, the Prime Minister provided a brief explanation of his government’s bold and ongoing measures to stabilize the cost of living and stimulate economic growth. Describing the wide-ranging reforms carried out over the past six years, he noted that while there have been persistent challenges, the country has made significant progress in many areas.

He said these reforms—anchored in a shift toward more democratic governance, economic liberalization, social transformation, and modernization—have brought about unprecedented success stories.

Addis Ababa, May 28, 2025 (FMC) — Ethiopia is making commendable strides in implementing long-overdue reforms in its financial sector, Africa Insurance Organization (AIO) President Patty Karuaihe-Martin has affirmed.

Speaking at the conclusion of the 51st AIO Conference held in Addis Ababa, Karuaihe-Martin praised Ethiopia’s financial sector reform as a critical component of its broader economic transformation, noting that the progress is clearly visible and widely acknowledged.

“Ethiopia is setting the pace with its ongoing reforms in the financial sector. The rest of Africa is watching closely and is eager to deepen business engagement with the country,” she told local newswire service ENA. “Together, as partners, we will collaborate and learn from one another.”

Addis Ababa, May 27, 2025 (FMC) — Ethiopia has been building up its manufacturing sector while currently registering remarkable progresses in this sphere of the economy, a renowned American Political-Economic analyst for Africa Lawrence Freeman said.

On his part, Ethiopia’s Industry State Minister, Tarekegn Bululta underscored that significant reforms have been implemented aimed at stimulating the manufacturing sector.

These reforms include macroeconomic adjustments and policies focused on import substitution and export growth, the state minister said.

“The manufacturing is one of the critical sectors that will determine the future prosperity of Ethiopia.

The sector is currently undergoing massive reforms. The government has already introduced new sound policies and procedures and the sector has witnessed a transformation,” Tarekegn told ENA.

Addis Ababa, May 17, 2025 (FMC) — Ethiopia’s ongoing economic reform is an encouraging move as it enhances the broader economic situation of the country by fostering efficiency and attracting foreign direct investment, Lennox Yieke, a business and finance journalist at the Nairobi-based African Business Magazine, underlined.

Yieke expressed optimism regarding Ethiopia’s ongoing economic reforms, emphasizing that it is encouraging to see the government prioritize economic transformation as a central agenda.

He noted several key initiatives have been taken that demonstrate the country’s commitment to fostering a more open and competitive economic environment.

One of the most notable measures taken by the Ethiopian government is the decision to open the telecommunications sector to 

Addis Ababa, May 16, 2025 (FMC) — Bank executives say that a favorable environment is being created to enhance the international competitiveness of Ethiopian banks through economic reform measures.

The Ethiopia Finance Forum currently taking place at the Science Museum in Addis Ababa includes an exhibition showcasing the services and innovations of the country’s financial institutions.

Speaking at the forum, Girum Tariku, Director of Marketing and Corporate Communications at Zemen Bank, indicated that the sweeping economic reforms currently being undertaken by the government are driving national growth and the overall resilience of the banking industry.

Addis Ababa, May 15, 2025 (FMC) – On the sidelines of the ongoing Ethiopia Finance Forum 2025, the National Bank of Ethiopia (NBE) and the European Investment Bank (EIB) signed a Memorandum of Understanding (MoU) to enhance cooperation in support of Ethiopia’s green development agenda.

The agreement was signed at the Science Museum in Addis Ababa by Mr. Solomon Desta, Deputy Governor of NBE, and Ms. Leila Traoré, EIB Representative to Ethiopia and the African Union.

Speaking at the MoU signing, Mr. Solomon Desta said the agreement marks a strategic step toward strengthening institutional collaboration and accelerating Ethiopia’s transition to a climate-resilient economy.

“The MoU opens new avenues for technical and financial cooperation as Ethiopia advances its vision of a green and inclusive economy,” . . . 

Addis Ababa, May 14, 2025 (FMC) — The World Bank (WB) has reiterated its commitment to further collaborate with the government of Ethiopia on its reform journey, commending the strong commitment of the government to create a better business environment.

Sherin Varkey, World Bank Program Leader for Human Development for Ethiopia, South Sudan, Sudan and Eritrea said the Bank is really looking forward to further collaborate with the Government of Ethiopia on this reform journey for future growth and productivity.

“We do see a very strong commitment from the Government of Ethiopia to create a better business environment. There are lots of reforms being taken in addition to macroeconomic reform.”

Addis Ababa, May 9, 2025 (FMC) – Ethiopia’s accession to the BRICS platform is providing a major boost to the country’s economic growth and international stature, according to the Russian Ambassador to Ethiopia, Evgeny Terekhin.

Ambassador Terekhin stated that BRICS membership is opening vital channels for development financing, technical expertise, and expanded market opportunities. He emphasized that the bloc “provides Ethiopia with access to important mechanisms for economic development and international cooperation.”

Beyond economic benefits, the ambassador highlighted Ethiopia’s enhanced role in global political affairs, noting that BRICS offers a platform for advocating reforms in international governance and promoting development models that reflect diverse national characteristics.

Addis Ababa, May 4, 2025 (FMC) — The full implementation of the macroeconomic reform has played transformative role in enhancing Ethiopia’s industrial development, according to senior government officials.

Minister of Planning and Development, Ms. Fitsum Assefa, Minister of Finance, Mr. Ahmed Shide and Governor of the National Bank of Ethiopia, Mr. Mamo Miheritu reflected on the full implementation of the macro economic reform at the panel discussion held yesterday as part of the “Made in Ethiopia” Expo 2025.

The Third Made in Ethiopia Expo, officially inaugurated by Prime Minister Abiy Ahmed at the Addis International Convention Center, served as a platform for high-ranking government officials to underscore the profound and positive . . . 

Addis Ababa, April 28, 2025 (FMC) – On the margins of the 2025 World Bank-IMF Spring Meetings, Ethiopia’s high-level delegation, led by Finance Minister Ahmed Shide, met with Mrs. Anna Bjerde, the World Bank’s Managing Director for Operations, to discuss the continued success of Ethiopia’s economic reforms and the path forward for sustainable growth.

The discussions underscored the strengthened partnership between Ethiopia and the World Bank, aimed at driving the country’s development agenda and fostering regional integration.

Minister Ahmed Shide, along with National Bank of Ethiopia Governor Mamo Mihretu, Senior Advisor to the Prime Minister Teklewold Atnafu, and State Minister for Finance Eyob Tekalign, highlighted the progress made in Ethiopia’s reform efforts.

Addis Ababa, April 27,2025 (FMC) — During the 2025 Spring Meetings, the high level Ethiopian delegation comprised of Minister Ahmed Shide, Mr. Mamo Mihretu Governor of the National Bank of Ethiopia and other members, had a constructive discussion with the recently appointed IMF deputy Managing Director Mr. Nigel Clarke.

The meeting discussed the strong progress in the implementation of Ethiopia’s macroeconomic reform and reviewed the findings of the third IMF program review mission held in Ethiopia in early April 2025.

The Minister acknowledged IMF’s technical and financial support, which has been instrumental in advancing Ethiopia’s reform agenda aimed at unlocking the country’s full economic potential by opening up and modernizing the economy, unlocking new growth opportunities, and fostering private sector investment to  . . . .

Addis Ababa, April 27, 2025 (FMC) – Ethiopia and United States’ International Development Finance Corporation agreed to explore cooperation on strategic investments.

The high level Ethiopian delegation led by Finance Minister Ahmed Shide met with the acting CEO of the U.S. International Development Finance Corporation (DFC) Dev Jagadesan during the 2025 World Bank-IMF Spring Meetings.

The meeting discussed Ethiopia’s reforms and measures taken to boost private sector investment, including recent opening up of the retail and financial sectors to international investors.

The CEO highlighted DFC’s current areas of focus for investment, including ICT, minerals, infrastructure, and agriculture, and indicated . . .

Addis Ababa, April 27, 2025 (FMC) — Ethiopia’s Minister of Finance Mr. Ahmed Shide meets with the United Kingdom Minister of State for International Development, Baroness Chapman on the margins of the 2025 Spring Meetings of the IMF and World Bank in Washington, D.C..

The ywo dignitaries held constructive discussion on the two countries’ bilateral partnership and the immense opportunities to further enhance cooperation in areas of shared bilateral, regional and global interests.

Mr. Ahmed Shide briefed the UK Minister on the success of his Government’s reform implementation despite challenging global conditions and Ethiopia’s positive economic outlook, and highlighted the need for sustained bilateral support for pro-poor development interventions to ensure the continued success of the reforms.

Addis Ababa, April 26, 2026 (FMC) — On the sidelines of the 2025 IMF-WB Spring Meetings being held in Washigton DC, a high level event was held focusing on Ethiopia’s and Uzbekistan’s WTO accession process.

Speaking at the event, Ethiopia’s State Minister of Finance Mr. Eyob Tekalign presented the success of the homegrown economic reform in Ethiopia and its relevance to Ethiopia’s WTO accession bid.

Eyob reaffirmed Ethiopia’s commitment to conclude its WTO accession by MC14 in Yaoundé in March 2026.

The forum was co-organized by the WTO, World Bank Group and the IMF. In attendance were Dr. Ngozi Okonjo-Iweala, Director-General of the WTO, Mr. Ndiame Diop, WB Vice President for East and Southern Africa and Mr. Ken Kang, Deputy Director of Strategy at the IMF.

Addis Ababa, April 25, 2025 (FMC) – Governor of the National Bank of Ethiopia (NBE), Mamo Mihretu, says the country’s bold economic reform is not simply about monetary or foreign exchange policy—it is a coordinated, whole-of-government effort that began with deep preparation and is being implemented with strategic sequencing and constant adaptation.

“What we did in Ethiopia is not just shift toward a market-based exchange rate regime. Most people assume that’s the reform. But in our view, that’s not the reform,” Mr. Mamo stated. “What happened in Ethiopia is a full-scale liberalization of the FX regime.”