News: Ethiopia’s credit rating downgraded by Fitch, amplifying high default risk
Fitch has downgraded Ethiopia’s rating as a result of a significant decline in liquidity and substantial financing shortfalls, which have heightened the risk of a potential default. This is the second time Ethiopia’s credit rating has been downgraded since September 2023. Two months ago, Moody, another credit rating agency, downgraded Ethiopia’s foreign currency rating from ‘Caa2’ to ‘Caa3’. Although the official creditor committee convened in September 2021, there has been no publicly acknowledged agreement reached regarding Ethiopia’s debt treatment. Fitch highlights the rise in domestic financing costs as a notable concern.
Source:Ethiopian News
November 03, 2023 15:14 UTC
United States (U.S.) Ambassador Launches Two New United States Agency for International Development (USAID) Projects on Water, Hygiene and Sanitation (Worth $90 Million)
Ambassador to Ethiopia, and Ambassador Asfaw Dingamo, the State Minister for Water Supply and Sanitation from the Ministry of Water and Energy, launched two new Water, Sanitation, and Hygiene (WASH) projects. Urban WASH will focus on professionalizing municipal utilities and building up markets for WASH services like safe toilet pans and handwashing stations that anyone can afford. The program will expand climate-resilient water services for pastoral communities. It will also make sure families in these lowland areas have access to affordable sanitation and hygiene products and services, and more. The project will also spur tens of thousands of jobs for Ethiopians building water, hygiene and sanitation infrastructure.
Source:Ethiopian News
November 03, 2023 15:06 UTC
AU To Continued Support for Ethiopia’s Peace Deal
On Nov. 2, 2022, the Ethiopian government and the TPLF signed the COHA in Pretoria, South Africa to end a two-year conflict. On Thursday, African Union (AU) Commission Chairperson Moussa Faki Mahamat reaffirmed the continental body's commitment to continued support for the peace agreement signed between the Ethiopian government and the Tigray People's Liberation Front (TPLF). According to official reports, Faki said in a press release that he affirms the full solidarity and commitment of the AU to intensify support for the implementation of the Pretoria Cessation of Hostilities Areement (COHA) as the implementation moves to the crucial phase of Disarmament, Demobilization and Reintegration (DDR). Faki also said the AU reassures the people and government of Ethiopia that it stands ready to consolidate the gains being made and to resolve pending issues in the implementation of the COHA. Furthermore, the peace deal includes provisions for the restoration of law and order, restoration of basic services as well as unhindered access to humanitarian supplies.
Source:Ethiopian News
November 03, 2023 14:44 UTC
PRESS ROOM: Natnael Belay ’20: Ethiopia’s New Bright Technology Star
Belay was hired as the lead program manager for the team among numerous candidates due to his program management and deep technical skills. He is the lead Technical Program Manager of Google’s Android Jetpack program. As part of the scaling, an experienced program manager with deep technical expertise was required to lead the Jetpack program end to end. Belay demonstrates deep technical and process innovation, along with superior communication management skills by effectively conveying the progress to 50+ senior leads, and devising risk mitigation plans accordingly. It is crucial to guide and mentor the upcoming generation of professionals and entrepreneurs, especially coming from someone who was in their shoes not too long ago.”The post PRESS ROOM: Natnael Belay ’20: Ethiopia’s New Bright Technology Star first appeared on BlackPressUSA.
Source:Ethiopian News
November 03, 2023 13:23 UTC
This Week in Peace #7: November 3
Welcome back to This Week in Peace, where we cover recent events in global peacebuilding. Ethiopia marked the one-year anniversary of a crucial peace treaty, even as an end to violence remains elusive. Russia withdrew its ratification of a key nuclear treaty, threatening global peace as its war in Ukraine continues. And this week marks the 10th anniversary of Geneva Peace Week, an annual forum for peacebuilders from around the world. Geneva Peace WeekGeneva Peace Week, an annual conference focused on peacebuilding, took place this week.
Source:Ethiopian News
November 03, 2023 13:16 UTC
One year after the peace agreement in Ethiopia, the endless war
It is called “operation to maintain constitutional order” – the taste for euphemisms went viral – and supposedly ended with a peace agreement signed in Pretoria, South Africa, on November 2, 2022. Read also: Ethiopia: after the war in Tigray, truth and justice sacrificedSo where are we? Read also: Article reserved for our subscribersIn Ethiopia, the raw wounds of the war in Tigray In this context, a few questions arise: is there still a peace agreement? And if so, what is the position of the international community which has endorsed a ” peace treaty “who didn’t end the war? THE ” peace treaty “of Pretoria is a new example of the real weight of African countries in the clashes in which their continent may find itself the scene.
Source:Ethiopian News
November 03, 2023 07:30 UTC
Scrapping multiple destinations’ll be disservice to Nigerians –Tasew, Ethiopian Airline CEO – The Sun Nigeria
How Ethiopian Airline startedEthiopian Airlines was established in 1945 and had its first flight to Cairo in 1946. This facility has the capacity to handle over one million tons of cargo per year and it is owned by Ethiopian Airlines. Ethiopian Airlines is run not as an airline but as an aviation group, which includes the airline, an MRO, training, catering and other facilities. I am telling you this to explain to you that Ethiopian Airlines growth is not only by buying airplanes and flying them. We have a 15-year long term strategy which outlines where Ethiopian Airlines has to be by 2035.
Source:Ethiopian News
November 03, 2023 02:35 UTC
African Union chief urges Ethiopia to sustain peace in Tigray region
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Source:Ethiopian News
November 02, 2023 23:40 UTC
Supreme Court Sets January 26, 2024, for Verdict on Farouk Lawan’s Appeal
The Supreme Court has officially scheduled January 26, 2024, as the date for delivering its judgment in the appeal filed by Farouk Lawan, a former member of the House of Representatives who is currently serving a prison sentence. Joseph Daudu, Lawan’s Counsel and Senior Advocate of Nigeria, initially urged the court to consider the bail application, expressing concerns about his client’s health. In his arguments, Daudu pointed out that the Court of Appeal had acquitted Lawan on counts one and two, which carried a maximum sentence of seven years. On the other side, Bagudu Sanni, representing the Federal Government, urged the court to affirm the Court of Appeal’s judgment and dismiss the appeal. The Court of Appeal had previously reduced Lawan’s initial maximum prison term from seven to five years.
Source:Ethiopian News
November 02, 2023 23:17 UTC
#ASDailyScoop: 10 countries commend progresses, urge full implementation of Pretoria peace deal
The signing of Pretoria Peace Agreement on 02 November 2022 (Photo: South African Government International Relations and Cooperation)Addis Abeba – Embassies and Missions of Australia, Canada, Denmark, Finland, Japan, The Netherlands, New Zealand, Norway, Sweden and the United Kingdom to Ethiopia said in a joint statement that they commend the progress made following the Pretoria peace agreement which “silenced the guns, and laid the foundations for normalcy to return” to northern Ethiopia. While recognising that “more needs to be done to protect, sustain and realize peace for all citizens,” the joint statement called the peace deal a “momentous achievement”. “We continue to urge all parties to implement the Agreement in full and to find solutions to address challenges, as soon as possible, through dialogue,” it stated. The countries also expressed concern over the ongoing violence in Amhara and Oromia regions, and the “disturbing” human rights violations that have persisted in many places. “We continue to stress the need for all parties to ensure the protection of civilians, for a cessation of hostilities as well as an inclusive dialogue”.
Source:Ethiopian News
November 02, 2023 15:28 UTC
Ethiopia: Atrocities Mar Ceasefire Anniversary
© 2023 Tiksa Negeri/Reuters(Nairobi) – Fighting and serious rights abuses persist in northern Ethiopia a year after the signing of the cessation of hostilities agreement, Human Rights Watch said today. “While the Ethiopian government and its international partners tout the tremendous progress made in the past year, civilians in conflict areas are still bearing the brunt of atrocities,” said Laetitia Bader, deputy Africa director at Human Rights Watch. During the past year, the warring parties have continued to commit human rights abuses in Tigray in violation of the November agreement’s pledge to protect civilians, Human Rights Watch said. An aid worker in Tigray told Human Rights Watch in October: “Humanitarian partners are demoralized; they don’t have enough resources. Despite the clear need for continued independent investigations and international scrutiny, Human Rights Council member states took no action to renew the expert commission’s mandate in September.
Source:Ethiopian News
November 02, 2023 15:09 UTC
Isuzu awarded as Eastern Cape’s biggest exporter
by TINTSWALO BALOYIJOHANNESBURG, (CAJ News) – ISUZU Motors South Africa has received the Best Exporter award in the Original Equipment Manufacturer (OEM) category at the recent Eastern Cape Exporters Awards. Isuzu has deepened and further grown its export market from the Eastern Cape to 25 markets across the African continent culminating in the company being the number one Eastern Cape-based automotive exporter into the African continent for 2022. Over the past three years, Isuzu Motors South Africa has seen an increase in vehicle sales by 59 percent in the 1-ton pick-up segment in Rest of Africa markets and Sub Saharan Africa. It has achieved 195 percent growth of commercial vehicles in the Rest of Africa markets when compared to the previous financial year. Isuzu received the SJL Environmental Merit award for the third time, recognising the interventions implemented to protect the environment.
Source:Ethiopian News
November 02, 2023 14:55 UTC
Ethiopia, South Sudan Desire to Strengthen Infrastructure Projects
Addis Ababa — Deputy Prime Minister and Minister of Foreign Affairs Demeke Mekonnen discussed with Speaker of South Sudan's Transitional National Legislative Assembly Jemma Nunu Kumba. During the meeting at the chief speaker's office in Juba, Demeke stated that Nile Basin member countries should strengthen their cooperation in order to properly use shared resources. He also said that Ethiopia has made a commitment to facilitating infrastructure projects that will strengthen the relationship between the two countries, according to the Ministry of Foreign Affairs. Speaker Jemma Nunu Kumba on his part highlighted the significance of linking Ethiopia and South Sudan through infrastructure in addition to strengthening economic tiesDemeke concluded his two-day official visit in Juba last evening.
Source:Ethiopian News
November 02, 2023 14:49 UTC
Philippines: 4 foreigners among travellers caught with drugs
Manila: A Bolivian, Malaysian, and two Singaporean travellers were arrested in recent days after they were caught with illegal drugs upon arrival at the Ninoy Aquino International Airport (NAIA). The most recent arrest was made on Thursday, November 2, when a 30-year-old Bolivian national was apprehended while attempting to smuggle illegal drugs into the country, the official news agency reported. ANTI-DRUG LAWS, REGULATIONS The arrest of suspects and confiscation of illicit substances align with provisions outlined in Republic Act 9165 (The Comprehensive Dangerous Drugs Act of 2002), Republic Act No. 1, Series of 2002, ensuring that these seized narcotics are removed from circulation and no longer pose a threat to society. Drugs destroyedOn October 20, the Philippine Drug Enforcement Agency (PDEA) destroyed a staggering $106 million (about 6 billion pesos) worth of illegal drugs and controlled precursors and essential chemicals (CPECs).
Source:Ethiopian News
November 02, 2023 14:23 UTC
Ethiopian Ministry points out major areas to boost horticulture’s export performance
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Source:Ethiopian News
November 02, 2023 13:20 UTC