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☆ Debt-laden African countries charged 'extortionate' rates, U.N. chief says
▼ + stars: | 2023-02-18 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +3 min

ADDIS ABABA, Feb 18 (Reuters) - African countries are getting a raw deal from the international financial system which charges them "extortionate" interest rates, the U.N. chief said on Saturday, as he announced $250 million in crisis funding, including for famine risk on the continent. "The global financial system routinely denies (developing countries) debt relief and concessional financing while charging extortionate interest rates," he said. The coronavirus pandemic pushed many poor countries into debt distress as they were expected to continue servicing their obligations in spite of the massive shock to their finances. Public debt ratios in sub-Saharan Africa are at their highest in more than two decades, the International Monetary Fund said last year. "African countries cannot... climb the development ladder with one hand tied behind their backs," Guterres said.

☆ Ethiopian PM meets Tigray region leaders for first time since peace deal
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +1 min

[1/2] Ethiopian Prime Minister Abiy Ahmed attends his last campaign event ahead of Ethiopia's parliamentary and regional elections scheduled for June 21, in Jimma, Ethiopia, June 16, 2021. REUTERS/Tiksa Negeri/File PhotoADDIS ABABA, Feb 3 (Reuters) - Ethiopian Prime Minister Abiy Ahmed met senior leaders of the Tigray region forces on Friday for the first time since they signed a peace deal with the national government ending two years of war, the state-run broadcaster said. The Addis Ababa government and forces of the Tigray People's Liberation Front (TPLF) signed agreements in November to permanently cease hostilities, ending fighting that killed tens thousands and displaced millions. Friday's meeting was Abiy's first with senior administrators of the northern Tigray region since the fighting broke out. Reporting by Dawit Endeshaw; writing by George Obulutsa; editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

☆ Eritrea troops still on Ethiopian soil - U.S.
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +2 min

Eritrean troops fought alongside the Ethiopian military and allied militias in the two-year conflict that pitted the Ethiopian government against rebellious forces in the northern region of Tigray. In November, however, the Ethiopia government and the Tigray forces signed an agreement to end the hostilities. The possible continuing presence of Eritrean troops in Tigray thus has been seen as a key obstacle to effective implementation of the deal. A senior Ethiopia military officer briefing foreign officials on Saturday denied there were any Eritrean troops in the country. A spokesperson for the Tigrayan forces, Getachew Reda,dismissed claims that the Eritrean troops had left Tigray and said "thousands" were still there.

☆ Eritrean troops seen leaving Ethiopian town of Shire
▼ + stars: | 2023-01-21 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +2 min

The Tigray war is believed to have resulted in tens, if not hundreds, of thousands of deaths and forced millions to flee their homes. Witnesses and an Ethiopian official reported last month that Eritrean soldiers were leaving Shire and two other major towns, but many ended up staying behind. A Shire resident said the Eritrean convoys were seen leaving the town from early in the morning until about 5 p.m. on Friday. All Eritrean troops in the town seemed to have left by Friday evening, he said. A second aid worker said hundreds of Eritrean vehicles had left Shire but that some soldiers remained in the town.

☆ Ethiopia deputy finmin: rumour of FX devaluation "completely unfounded"
▼ + stars: | 2023-01-19 | by ( Rachel Savage | ) www.reuters.com time to read: +2 min

"There is widespread rumour that devaluation is in the making. loading"A sensible macro reform is always our agenda but there should not be any concern about mere devaluation." Ethiopia currently operates a managed exchange rate for the birr, allowing it to depreciate gradually against the dollar. In 2020, the IMF recommended moving to a market-clearing exchange rate regime, to deal with an overvalued currency and FX shortages. "So the exchange rate unification remains one important policy goal, but we are just doing it gradually."

☆ Ethio Telecom posts H1 growth in revenue, financial service subscribers
▼ + stars: | 2023-01-12 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +1 min

[1/2] Ethio Telecom employees serve a customer inside their call centre in the Bole neighborhood branch in Addis Ababa, Ethiopia July 29, 2022. REUTERS/Tiksa NegeriADDIS ABABA, Jan 12 (Reuters) - Ethiopia's state-owned Ethio Telecom on Thursday reported a 20% rise in half-year revenue to 33.8 billion birr ($633 million). Subscribers to its mobile phone-based financial service Telebirr, launched in May 2021, grew to 27.2 million out of its 70 million total subscribers, CEO Frehiwot Tamiru told a news conference. That was up from 21.8 million Telebirr subscribers in June 2022. Efforts to attract investment have been hampered, however, by a two-year war in the northern Tigray region, which has killed tens of thousands and displaced millions.

☆ Africa should not be arena for international competition, says Chinese foreign minister
▼ + stars: | 2023-01-11 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +2 min

[1/6] China's Foreign Minister Qin Gang addresses delegates at the inauguration of the new Africa Centres for Disease Control and Prevention headquarters, which China is building and equipping in Addis Ababa, Ethiopia, January 11, 2023. REUTERS/Tiksa NegeriADDIS ABABA, Jan 11 (Reuters) - Africa should not be an arena for competition between world powers, China's Foreign Minister Qin Gang said on Wednesday, opening a new headquarters for a pan-African health body at the start of five-country Africa tour. "Africa should be a big stage for the international cooperation, not an arena for major countries competition," Qin said at a news conference with AU Commission chair Moussa Faki. A trusted aide of President Xi Jinping and former ambassador to the United States, Qin was appointed foreign minister last month. Paul Nantulya, a research associate at the Africa Center for Strategic Studies, said the choice of countries reflected China's diversity of interests in Africa.

☆ Tigray forces begin handing over heavy weapons to Ethiopian army
▼ + stars: | 2023-01-10 | by ( Dawit Endeshaw | ) www.reuters.com time to read: +2 min

[1/2] Abandoned ammunition boxes lie on the ground following a battle between the Ethiopian military and Tigray forces along the road between the village of Sheweate Hugum and Yechila town in south-central Tigray, Ethiopia, July 10, 2021. REUTERS/Giulia ParaviciniADDIS ABABA, Jan 10 (Reuters) - Tigray forces, who fought a two-year war against Ethiopia's federal government, began handing over heavy weaponry to the national army as part of an African Union-led peace process on Tuesday. The demobilisation of Tigray forces is seen as central to the Nov. 2 ceasefire agreement, alongside the restoration of services, resumption of humanitarian aid and withdrawal of Eritrean troops, who fought alongside Ethiopia's army but were not party to the truce. The conflict created famine-like conditions for hundreds of thousands of Tigray's population, killed thousands and displaced millions across northern Ethiopia. At the ceremony, Tigray Defence Forces (TDF) representative Mulugeta Gebrechristos said the start of the disarmament would play a major role in restoring peace.

☆ Eritrean soldiers leave major towns in northern Ethiopia - witnesses
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +2 min

ADDIS ABABA, Dec 30 (Reuters) - Eritrean soldiers, who fought in support of Ethiopia's federal government during its two-year civil war in the northern Tigray region, have pulled out of the major towns of Shire and Axum and headed toward the border, three witnesses told Reuters. It was not immediately clear if the Eritrean troops were leaving Tigray entirely or just pulling back from certain towns. Getachew Reda, a spokesperson for the Tigrayan forces, and Ethiopian national security advisor Redwan Hussien did not immediately respond to requests for comment on Friday. Aid workers in Axum and Shire said they saw several trucks and dozens of cars packed with Eritrean soldiers on Thursday leaving toward the border town of Sheraro. Eritrea and Ethiopia fought a border war between 1998 and 2000, when the Tigray People's Liberation Front (TPLF), which now leads the Tigrayan forces, dominated the federal government.

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