Ethiopia Police Cracks Down on Illegal Forex Trade

BY SAMUEL GETACHEW | THE REPORTER The Addis Ababa Federal Police has raided the foreign exchange black market shutting down all suspected stores located around Gandhi Hospital and Ethiopia Hotel. The stores, believed to do the illegal business,have been shut since late last week and are now guarded by the police to prevent from evidence […]

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Sudan Sharply Devalues Currency as Economic Crisis Bites

BY AFP Sudan slashed the official value of its currency against the US dollar by more than half on Sunday, the third devaluation this year in the face of a mounting economic crisis. The move came just weeks after President Omar Al-Bashir replaced the government over its failure to curb economic woes including soaring food […]

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Breaking the Stalemate in the Egypt-Ethiopia Dam Dispute

BY BARAK BARIF | THE WASHINGTON INSTITUTE On July 26, the chief engineer of the Grand Ethiopian Renaissance Dam, Simegnew Bekele, died under mysterious circumstances. Two days earlier, Prime Minister Abiy Ahmed revealed that the project could take another ten years to complete, even though the self-financed dam has already strained the impoverished country’s fragile […]

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China Scales Back Investment in Ethiopia

Ethiopia’s economy pressured by rising debt and foreign exchange crisis BY THE FINANCIAL TIMES China is scaling back investment in Ethiopia in the face of rising foreign exchange shortages and government debt, highlighting the fragility of the African nation’s economy as the new prime minister prioritizes political reform to quell three years of deadly social […]

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