Latest news with #AddisAbaba
Times of Oman
a day ago
- General
- Times of Oman
"Global South must cooperate against terrorism," says former Ethiopian PM after meeting Indian delegation
Addis Ababa: The all-party delegation led by Nationalist Congress Party (Sharadchandra Pawar) MP Supriya Sule, met with the former Ethiopian Prime Minister Hailemariam Desalegn in Addis Ababa late on Friday. The delegation had arrived at Bole International Airport in Ethiopia on Friday, where they were received and welcomed by the Ambassador of India to Ethiopia, Anil Kumar Rai. The delegation also includes Rajiv Pratap Rudy (BJP), Vikramjit Singh Sahney (AAP), Manish Tewari (Congress), Anurag Singh Thakur (BJP), Lavu Sri Krishna Devarayalu (TDP), Anand Sharma (Congress), V Muraleedharan (BJP), and former diplomat Syed Akbaruddin. The delegation discussed bilateral cooperation, regional development, and the global fight against terrorism. After meeting the all-party delegation, the former Ethiopian Prime Minister Hailemariam Desalegn said, "Terrorism is a global problem and as a global community we need to cooperate and coordinate to fight against terrorism. The African Union has very good regulations as far as fighting terrorism is concerned, and especially when terrorism is state-sponsored, it is a very dangerous one. We need to find a way to fight terrorism... Global South, especially, has to cooperate and be strong in the fight against terrorism." Speaking after the meeting, Sule called the interaction "excellent," lauding Desalegn's five-decade-long engagement with Ethiopia's political and economic landscape. "They have seen a lot of conflict here. They have seen ups and downs in their economy and growth. But under his leadership, they had double-digit growth and many infrastructure projects--be it beautiful dams, railways, industrial parks," Sule noted, drawing parallels between India and Ethiopia's shared developmental aspirations. "We had a detailed discussion and told him what happened in Pahalgam. The attack on India's soul is just not accepted. And we all must commit ourselves to zero tolerance against any terrorism anywhere in the world. India will not accept any terrorist attacks anymore," Sule stressed, underlining the main theme of the delegation's engagements across the region. Sule also welcomed Ethiopia's inclusion in the G20 during India's presidency last year, calling it a significant milestone in India-Ethiopia ties. "It's very important for us to come here today to talk to them. We were very warmly received and reassured that in this journey of eradication of terrorism, Ethiopia still stands together solidly with India," she said. Commenting on Ethiopia's bilateral relations with Pakistan, Sule said that terrorism must be opposed globally, regardless of geopolitical alignments, "I think globally, everybody agrees that there has to be zero tolerance against terrorism. So I think we are very hopeful that when it comes to terrorism, we all stand united, whoever the other country may be, but we will not accept any terrorism anywhere in the world anymore." Meanwhile, echoing similar views, Telugu Desam Party (TDP) MP Lavu Sri Krishna Devarayalu, a member of the delegation, highlighted the need for decisive action against terror-sponsoring states. "We don't find the difference between terrorist organisations and the states sponsoring terrorism, we see the similarities in them. We will not be restraining ourselves, but for the security of the country, for the safety of the country, we will try to eliminate the threat of this terrorism wherever it is in whichever country that is sponsoring it," he said. The visit, part of India's broader diplomatic outreach following the terror attack in Jammu and Kashmir's Pahalgam and the subsequent Operation Sindoor, aimed to deepen bilateral ties and convey India's firm stance against cross-border terrorism.
Times of Oman
a day ago
- General
- Times of Oman
Any kind of terrorism, religious extremism is unacceptable in Africa: Ethiopian leader
Addis Ababa : Speaker of the House of Ethiopia, Tagesse Chafo, has highlighted "very long-standing relationship" between India and his country and stressed the importance of working together with New Delhi and international organisations to eradicate terrorism. Speaking to ANI, he said: "We have to work together with the people of India and all relevant authorities in the African Union and the UN to eradicate this evil act." "India and Ethiopia have a very long-standing relationship. Terrorism happens in some parts of Africa. Any kind of terrorism and religious extremism is unacceptable in Africa. We have to stand together. A global coalition is very important," he added. The Supriya Sule-led delegation is in Ethiopia. The delegation includes Rajiv Pratap Rudy (BJP), Vikramjit Singh Sahney (AAP), Manish Tewari (Congress), Anurag Singh Thakur (BJP), Lavu Sri Krishna Devarayalu (TDP), Anand Sharma (Congress), V Muraleedharan (BJP), and former diplomat Syed Akbaruddin. On Saturday, the delegation had several meetings, including one with Adem Farah, Vice President of the Prosperity Party, Ethiopia's ruling party; a meeting with the Peace and Security Council of the African Union at its Headquarters; meeting with former Ethiopian Prime Minister Hailemariam Desalegn, and also met with Tagesse Chaffo, Speaker of the House of Peoples' Representatives of Ethiopia and members of the House. The delegation had arrived at Bole International Airport in Ethiopia on Friday, where they were received and welcomed by the Ambassador of India to Ethiopia, Anil Kumar Rai. Recently, the delegation concluded its diplomatic visit to South Africa with a series of meetings at India House in Pretoria, the administrative capital of South Africa, involving political leaders, think tanks, and the Indian diaspora. Seven all-party delegations are taking part in various outreach programmes in the countries they are assigned to. The delegations aim to brief international partners on India's response to the April 22 Pahalgam terror attack and its fight against cross-border terrorism. The seven delegations are visiting Saudi Arabia, Kuwait, Bahrain, Algeria, the UK, France, Germany, the EU, Italy, Denmark, Indonesia, Malaysia, Korea, Japan, Singapore, the UAE, Liberia, Congo, Sierra Leone, the US, Panama, Guyana, Brazil, Colombia, Spain, Greece, Slovenia, Latvia, Russia, Egypt, Qatar, Ethiopia, and South Africa.
Zawya
3 days ago
- Business
- Zawya
International Monetary Fund (IMF) Staff Conclude Article IV Discussions and Reach Staff-Level Agreement on the Third Review of the Extended Credit Facility for Ethiopia
IMF staff and the Ethiopian authorities have reached staff-level agreement on economic policies to conclude the third review of the four-year US$3.4 billion Extended Credit Facility arrangement. Once approved by the IMF Executive Board, Ethiopia will gain access to about US$260 million in financing. Ethiopia's macroeconomic performance has exceeded program expectations, with better-than-forecast results for inflation, export growth, and international reserves. Maintaining reform momentum remains essential for consolidating recent gains, correcting macroeconomics imbalances, restoring external debt sustainability, laying the foundations for high, private sector-led growth, and ensuring the success of Ethiopia's homegrown reform agenda. A staff team from the International Monetary Fund (IMF) led by Mr. Alvaro Piris, visited Addis Ababa from April 3 to 17, 2025, to discuss the 2025 Article IV consultation and the third review under the Extended Credit Facility (ECF). Discussions continued at the Spring Meetings in Washington DC, April 21-28, and subsequently. The ECF arrangement was approved by the IMF Executive Board on July 29, 2024, for a total amount of US$3.4 billion (SDR 2.556 billion). Subject to approval by the IMF Executive Board, the third review will make available about US$260 million (SDR191.7 million), bringing total IMF financial support under the ECF arrangement so far to about US$1,849 million (SDR1,406.4 million). Today, Mr Piris issued the following statement: 'The IMF staff team and the Ethiopian authorities have reached staff-level agreement on the third review of Ethiopia's economic program under the ECF arrangement. The agreement is subject to the approval of IMF management and the Executive Board in the coming weeks. A memorandum of understanding with official creditors is expected to be agreed ahead of the IMF Board's consideration of the third review. 'The authorities' policy actions in the first year of the program have yielded strong results. The transition to a flexible exchange rate regime has proceeded with little disruption. Measures to modernize monetary policy, mobilize domestic revenues, enhance social safety nets, strengthen state-owned enterprises, and anchor financial stability continue to show encouraging results. Macroeconomic indicators have performed better than expected, with substantially better outcomes than forecast for inflation, goods exports, and international reserves. 'Recent policy action should help deepen the FX market and tackle remaining distortions. While real exchange misalignment has been corrected and FX availability has improved from a year ago, the spread between the official and parallel market widened again in early 2025 and high fees and commissions persist. Actions that are being rolled out to enhance transparency, reduce costs, ease restrictions on current account transactions, and strengthen prudential regulation will help to improve the functioning of the FX market. 'Maintaining reform momentum will be key to consolidating gains and securing sustainable high growth. Continued tight monetary and financial conditions will be important for managing inflation and exchange rate expectations. Further revenue mobilization is needed to provide sustainable financing for critical development spending. Reforms to improve the business environment, ensure fair taxation practices, encourage foreign direct investment, and facilitate open dialogue with business will be important to secure private sector investment. Efforts to end the remaining elements of financial repression and develop the capital market will help to mobilize savings and support the efficient allocation of capital. 'The staff team is grateful to the authorities for the excellent policy discussions and their strong commitment to the success of the IMF-supported economic program. The team met with Minister of Finance Ahmed Shide, Governor of the National Bank of Ethiopia Mamo Mihretu, State Minister of Finance Eyob Tekalign, and other senior officials. Staff also had productive discussions with representatives of banks and businesses that are operating in a range of sectors and representatives of civil society.' Distributed by APO Group on behalf of International Monetary Fund (IMF).
Zawya
3 days ago
- Business
- Zawya
Ethiopia, IMF staff agree programme review that could unlock $260mln
Ethiopia and the International Monetary Fund have reached a staff-level agreement on the third review of the country's $3.4 billion loan programme from the lender, the Fund said on Friday. Once approved by the IMF's Executive Board, Ethiopia will gain access to another $260 million in financing. "The (Ethiopian) authorities' policy actions in the first year of the programme have yielded strong results. The transition to a flexible exchange rate regime has proceeded with little disruption," the IMF statement said. "Macroeconomic indicators have performed better than expected, with substantially better outcomes than forecast for inflation, goods exports and international reserves." (Reporting by Alexander Winning; Editing by Hugh Lawson)
Reuters
3 days ago
- Business
- Reuters
Ethiopia, IMF staff agree programme review that could unlock $260 million
May 30 (Reuters) - Ethiopia and the International Monetary Fund have reached a staff-level agreement on the third review of the country's $3.4 billion loan programme from the lender, the Fund said on Friday. Once approved by the IMF's Executive Board, Ethiopia will gain access to another $260 million in financing. "The (Ethiopian) authorities' policy actions in the first year of the programme have yielded strong results. The transition to a flexible exchange rate regime has proceeded with little disruption," the IMF statement said. "Macroeconomic indicators have performed better than expected, with substantially better outcomes than forecast for inflation, goods exports and international reserves."
