In July, Ethiopia reached a memorandum of understanding with the Official Creditor Committee that provides $2.5 billion in debt relief through fiscal year 2028. The agreement includes a 12.5% present value debt reduction, three-year duration extension, and 34% debt service reduction during the IMF program period.

The East African nation and fellow Brics member is the latest country to seek a switch, accelerating the yuan’s internationalisation.

After more than a decade of construction and multiple reservoir fillings, Ethiopia officially inaugurated its massive hydroelectric dam on the Blue Nile earlier this month. The Grand Ethiopian Renaissance Dam is the largest dam in Africa, with a total ...

ADDIS ABABA, Ethiopia – Among the whimpering of rescued dogs, a soft whistle cuts through. It’s Feven Melese, a young woman hoping to support thousands of abandoned dogs on the streets of the Ethiopian capital, Addis Ababa. The 29-year-old music degree ...

The formal launch of Ethiopia’s Grand Ethiopian Renaissance Dam in September 2025 made news across the world. There was pomp and ceremony as Africa’s largest hydroelectric dam was officially inaugurated after 14 years and US$5 billion worth of project work.

FILE - People throw grass and flowers into a pool of water as they celebrate the annual Irreecha festival in the capital Addis Ababa, Ethiopia, Oct. 1, 2022. (AP Photo/File) FILE - People throw grass and flowers into a pool of water as they celebrate the ...