| African Countries Teetering Under Debt Stress - IMF Report
Public debt rose above 50 percent of gross domestic product (GDP) in some 22 African countries at the end of 2016, up from ten countries in 2013
November 12, 2018 -- By the International Monetary Fund (IMF’s) own admission, there are circumstances where African governments’ debt levels are so high they become unsustainable, such that the scheduled debt service exceeds the capacity of the member to service it.
This rings true for a number of countries in the Sub-Saharan African region, where the organisation, in its regional economic outlook for the year, warned debt servicing
| Leaders of Ethiopia, Eritrean, Somalia Vow to Strengthen Regional Economic Cooperation
November 10, 2018 - The leader of Ethiopia, Eritrean and Somalia vowed to strengthen regonal economic cooperation while concluding their two-day summit in Amhara regional state of Ethiopia.
The two-day meeting between Ethiopian Prime Minister Abiy Ahmed, Eritrean President Isaias Afewerki, and Somalian President Mohamed Abdullahi Farmajo was meant to cement the outcome of the Horn of Africa economic integration agreement made earlier in September this year between the three leaders.
"This is a testimony for everyone that the history of the Horn of Africa has changed," the Somali president
| Leaders of Eritrea and Somalia in Amhara Regional State of Ethiopia
November 9, 2018 - The leaders of Eritrea and Somalia are in Amhara regional state of Ethiopia for trilateral and regional issue talks. President Isaias Afewerki of Eritrea and President Mohamed Abdullahi Farmajo of Somalia first arrived in the city of Gonder in Amhara regional state and then headed to Bahir Dar city, the regional capital of Amhara state.
The leaders visited Gondar University, an irrigation project in Dembia woreda, and the Bure agro-industry park in Bure city, according to ENA.
According to reports, the three leaders are expected to hold a tripartite meeting to cement the outcome of the Ho
| PM Abiy Ahmed in Amhara State to Welcome Eritrean President
November 8, 2018 - Ethiopian Prime Minister Abiy Ahmed is in Gondar, Amhara Regional State, to welcome Eritrean President Isaias Afworki.
The Eritrean President Isaias Afworki is scheduled to visit Bahir Dar and Gondar beginning tomorrow.
Both leaders are also expected to visit different projects in the Amhara region.
This visit is a third trip to Ethiopia by President Isaias Afewerki since the peace agreement was signed between the two countries.
A delegation from the Amhara regional state visited Eritrea last September.
During the visit, the delegation met with President Isaias and other senior Eri
| Eritrean President to Visit Amhara State of Ethiopia This Week
November 7, 2018 - Eritrean President Isaias Afewerki is scheduled to visit Amhara Regional State of Ethiopia starting on Friday. This is the third time the Eritrean President is visiting Ethiopia in as many months since the historic normalization of relations brought about by Ethiopian Prime Minister Abiy Ahmed.
Earlier, he visited Addis Ababa twice. During the last visit, he also toured development projects in Ethiopia, including the indurial park in the southern city of Hawassa.
The Eritrean President was invited by officials of the Amhara regional state following visit to Asmara by their delegation a couple of
| Dubai Sues China for Building Free Trade Zone in Djibouti
November 5, 2018 - UNITED Arab Emirates (UAE) DP World Limited and its subsidiaries of Dubai has sued China for building an international free trade zone on a terminal being disputed with Djibouti, according to Financial Gazette Newswire.
The lawsuit was filed in the High Court of Hong Kong for unlawfully procuring and inducing the Republic of Djibouti to breach various agreements between the African country and DP World.
In the lawsuit, DP World sought damages, interest, and a declaration that China Merchants unlawfully procured and/or induced Djibouti’s breaches of its agreements with DP World.
When the contra
| UN Security Council Expected to Lift Sanctions on Eritrea
November 3, 2018 - The UN Security Council (UNSC) is expected to lift sanctions on Eritrea, according to AFP report. Eritrea has been under crippling sanctions for years due to its past involvements with regional instability, including support for what many countries believe terrorist organizations.
Britain proposed a draft resolution calling for lifting of arms embargo and all travel bans, asset freezes and targeted sanctions on Eritrea, according to AFP.
The UNSC is set to go ahead and approve the lifting of sanctions after the United States of America withdrew its objections. Earlier the US had wanted to pr
| Ethiopian Government Launches Visa on Arrival for All African Citizens
November 2, 2018 - The Ethiopian Government launched visa on arrival for all African citizens, according to the Ministry of Foreign Affairs disclosure. The ministry disclosed this information at an event held yesterday at the headquarters of the African Union (AU).
In attendance were State Minister of Foreign Affairs, Hirut Zemene, Chairperson of the African Union Commission, Moussa Faki Mahamat, State Minister of Peace, Zeynu Jemal, CEO of Ethiopian Airlines, Tewolde Gebremariam, other government officials, diplomatic corps and invited guests.
Hirut Zemene said the Government of Ethiopia is offering visa-on-arrival services to
| Ethiopian Ministry of Revenue Preparing Trade Rules with Eritrea
November 2, 2018 - The Ethiopian Ministry of Revenue is Preparing trade rules with Eritrea, according to ENA report. A legal framework is being prepared that regulates the import-export trade between Ethiopia and Eritrea, according to Ethiopian Ministry of Revenue.
Ethiopia and Eritrea started normalization relations since Ethiopian Prime Minister Abiy Ahmed visited the Eritrean capital on July 8, 2018.
Since then, the Eritrean President Isaias Afewerki has visted Ethiopia twice. The two countries has since signed peace agreements and exchanged diplomatic posts.
Following the cessation of hostili
| World Bank Approves $1.2 Billion in Grant and Loan to Ethiopia
October 31, 2018 - The World Bank approved $1.2 billion in grants and loans to Ethiopia to support economic growth and the ongoing reforms in the country.
The financial support to Ethiopia comes in the form of grant of $600 million and loan of $600 million.
In astatement, the bank said the funds would go towards supporting reforms in the financial sector including improving the investment climate.
World Bank is providing new financial and technical support in response to the reform pledges made by the government since Prime Minister Abiy Ahmed took office in April, the bank said.
The Government of Ethiopia has embarke
| PM Abiy Ahmed in Germany Attending CwA Meeting
October 30, 2018 - Ethiopian Prime Minister Abiy Ahmed is in Germany attending CwA meeting and as part of three cities tour in Europe.
Upon his arrival, he was received by German Chancellor Angela Merkel. The two are expected to hold bilateral talks shortly.
Dr. Abiy Ahmed is also expected to address some 25,000 Ethiopians in Frankfurt tomorrow, risding in various cities in Europe.
The Prime Minister will then attend the Compact with Africa (CwA) meeting, along with some 12 African heads of states.
Intended to promote private investments in Africa, the CwA was initiated under the German G20 Presidency.
| France Pledges €100 Million Grant to Ethiopia
By Staff Reporter
October 30, 2018 - French President Emmanuel Macron announced a €100 million in grant to Ethiopia as part of an effort to support the ongoing economic reform in the horn African nation.
The announcement came after the visiting Ethiopian Prime Minister Dr. Abiy Ahmed held discussion with President Emmanuel Macron at Élysée Palace in Paris.
In a joint briefing, Prime Minister Abiy Ahmed said he was very grateful for the positive response for his plea he made to the french president who agreed to lend a helping hand to protect and preserve the Lalibela churches in Am
| Ethiopia, Kenya and Zimbabwe Saw Strongest Gains in FDI Flow
October 29, 2018 -- Ethiopia saw one of the strongest FDI gains in Africa for year 2017, along with Kenya and Zimbabwe, according to a report from EY.com. By contrast, South Africa, Egypt, Mozambique and Cote d’Ivoire experienced declines in FDI projects in the same year.
South Africa is still the largest African FDI hub, with Morocco; Southern, West, East and North Africa all receive more or less equal FDI (measured in project numbers), according to the report.
The USA remains the single biggest country investing in Africa, while Western Europe (especially UK, France and Germany) is by far the biggest regional investor.
| ONLF Signed Peace Deal with Ethiopian Government
October 22, 2018 - The Ogaden National Liberation Front (ONLF) signed a peace deal with the Ethiopian government on Sunday in Asmara, Eritrea, according to ENA.
The two sides have been in discussions for some time. It is not known exactly what was agreed upon except for general terms that the front will conduct peaceful struggle that was made public.
According to the Ethiopian Ministry of Foreign Affairs, this has ended one of the oldest armed struggles in the country.
Minister of Foreign Affairs, Workneh Gebeyehu led the Ethiopian delegation. He was accompanied by the Minister of Finance, Ahmed Shide, and the Vic
| Yemen Facing Worst Famine in 100 Years
October 20, 2018 - The United Nations is warning that up to 13 million people face stravation in a civil war-torn Yemen.
Yemen has been in conflict since 2015 when interim president Abd-Rabbu Mansour Hadi went into exile in the face of Houthi militia advance onto the capital Sanaa.
Supported by Saudi Arabian forces, the former President later returned into Yemen and formed base in the sourthern city of Aden.
The country has been ravaged by years of Saudi bombardment, causing massive displacement and starvation.
UN advocates are calling on a military coalition led by U.S. ally Saudi Arabia to halt air strikes that are
| Foreign Ministers of Ethiopia, Eritrea in Somalia Pushing for Peace, Stability
October 17, 2018 - The foreign ministers of Ethiopia and Eritrea visited Mogadishu today to appeal to all stakeholders in Somalia to work towards the peace and stability in country.
The two ministers Dr. Workneh Gebeyehu of Ethiopia and Osman Saleh Mohammed of Eritrea paid an official visit to Mogadishu today, October 17, 2018.
The visit was part of increased diplomatic cooperation between the three nations and following the trilateral agreement signed by the leaders of Ethiopia, Eritrea and Somalia in Asmara, in September 2018.
The current visit forms a marked departure from past politics in the region where
| Eritrean President in Ethiopia on Two-Day Visit
October 14, 2018 - The President of Eritrea, Isaias Afwerki, is in Ethiopia for a two-day official visit. He arrived early Sunday at Addis Ababa Bole International Airport and was received by Prime Minister Dr. Abiy Ahmed along with Foreign Minister Dr. Workneh Gebeyehu and other high level government officials.
This is the second of two visits the Eritrean President made to Addis Ababa after a hostoric normalization of relations between the two countries.
During his current visit, the Eritrean President is expected to hold discussions with Prime Minister Dr. Abiy Ahmed on bilateral and regional issues to advance th
| Traffic from Eritrea Causing Fuel Shortages in Tigray
October 13, 2018 - The re-opening of borders between Ethiopia and Eritrea has created fuel shortages in major towns of Tigray, according to the Reporter.
Traffic has increased significantly, according to Tigray Urban Development, Trade & Industry Bureau. On average some 1,000 vehicles are said to coming to Tigray daily, with the figure sometimes going up to 2,000, according to the report.
Due to price differences and availability issues, drivers coming from Eritrea would like to fill up their vehicles in Tigray, causing shortages, especially in towns that do not have many gas stations.
The vehicles mostly are automobiles,
| Eritrean Exodus to Ethiopia Intensifying - Report
October 12, 2018 - Since the opening of the border between Ethiopia and Eritrea, the rate of Eritrea migrants coming to Ethiopia has increased dramatically, according to the United Nations.
who were once arrested for dodging forced military service are now simply crossing over, according to the report.
Most of the migrants are said to be women and children.
"I had to take this chance to leave the country now," one Eritrean migrant told AFP a few days after arriving in the Ethiopian border town of Zalambessa with her three daughters, all under six.
Eritrean refugee arrivals in border areas have now
| Italian Prime Minister in Ethiopia on Two-Day Visit
October 11, 2018 - Italian Prime Minister Giuseppe Conte is in Ethiopia for a two-day working visit, and as part of tour to the Horn of Africa.
He was welcomed by Ethiopian Prime Minister Dr Abiy Ahmed upon arrival at Bole International Airport.
He is scheduled to travel to Eritrea where he will meet President Isaias Afewerki after concluding his trip to Ethiopia.
According to reports, the Italian Prime Minister wants to support the peace deal signed between Ethiopia and Eritrea last July after nearly 20 years of stalemate.
Italy has a long history of association with Ethiopia and Eritrea. Italy ruled Eritrea for s