Ethiopia’s Path to Recovery: IMF Loan Negotiations, Internet Penetration Expansion, and Amhara Region Stabilization
Ethiopia in Talks with IMF for $2 Billion Loan Under Reform Program
Ethiopia is negotiating with the International Monetary Fund (IMF) for a loan of at least $2 billion as part of a reform program, according to Reuters.
The IMF is currently assessing Ethiopia’s debt sustainability following the country’s request for a program that is 500% the size of its stake in the global lender.
The IMF’s initial debt analysis indicates that Ethiopia may face a financing gap of at least $6 billion until 2026.
Talks are ongoing during the IMF and World Bank spring meetings in Washington.
Ethiopia had previously requested a broader debt restructuring under the G20’s Common Framework, but progress has been hindered by the ongoing two-year civil war.
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Avanti Communications Targets Ethiopia and Somalia to Boost Internet Penetration
London-based specialty satellite operator Avanti Communications aims to expand its operations in Ethiopia to increase the nation’s Internet penetration, according to CEO Kyle Whitehill.
Avanti has applied for a telecom operating license in Ethiopia and initiated active discussions with Safaricom and Ethio Telecom regarding potential partnerships, Advanced Television reports.
Additionally, the company is targeting Somalia for further expansion in East Africa. This follows Avanti’s recent ventures in Turkey and providing Internet access to over 3,000 schools in Africa.
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Amhara Region Recovers from Protests as Businesses Reopen Amid New Security Challenge for Ethiopian Government
Following six days of violent protests over a proposed reorganization of local forces, businesses in Ethiopia’s Amhara region have reopened and traffic has returned to urban centers, according to local residents.
The demonstrations, which have resulted in at least five deaths, present a new security challenge for Prime Minister Abiy Ahmed’s government in the wake of the two-year conflict in the adjacent Tigray region, which concluded with a ceasefire in November.