As Ethiopia prepares to receive the new Ethiopian year, 2017, there are plenty of issues that Ethiopians and the government wish to see accomplished amidst the bold challenges. Having many fruitful and promising activities and projects in the pipeline, Ethiopia expects much more from the upcoming New Year. Adversely, there are still several hiccups in the process.
As the Government of Ethiopia has embarked on some big projects throughout the nation in the past few years, Ethiopians are expecting their advance and completion in the upcoming year.
In the political aspects of the country, Ethiopia is trying to achieve the best outcomes from its current ongoing activities like the national dialogue, transitional justice, the Pretoria Accord, and many more. From its inception, the Ethiopian National Dialogue Commission has been working on various agenda-gathering and similar issues to overcome problems that have pulled back the nation. The commission has already put its efforts into Addis Ababa and Harar Regional State to gather the necessary agendas. The process is being continuously taken to the rest of the country.
The country is also taking bold moves regarding the implementation of transitional justice across the country to secure the peace and unity of the nation.
In addition, the country is also stepping up its leading position in the Horn to secure its national interest by accessing the sea. Recently, Ethiopia and Somaliland have entered a breakthrough sea access deal. This grand deal sent a new dawn of cooperation in the Horn of Africa. Ethiopia’s signing of a memorandum of understanding with Somaliland—which is in line with the former’s legitimate quest for access to the sea, also came as a vital event opening the door for regional cooperation.
However, since the signing, there has been a collusion of internal and external forces to disrupt the cooperation although the signatories remained resilient and resolute to implement the deal. Despite the ongoing efforts to derail the path, Ethiopia is navigating the region towards economic integration. The nation is always ready to resolve any dispute in peaceful ways.
On top of that, Ethiopia’s well-known stand in the world arena, the non-aligned policy is still being implemented. The country’s balanced diplomatic approach to establish peaceful partnership with the west and east has fruited results. Ethiopia has established well-preserved diplomatic relations with both the east and west countries with non-aligned positions. Being the anchor state in the Horn, Ethiopia continues to maintain a balanced and neutral position in its relations with the global community. The country has been admitted to the BRICS bloc and also has been taking center stage in global frontiers.
In terms of the economy, the year has been marked by the vigorous implementation of “the Home Grown Economic Reform,” and sweeping economic reform which aims to address the nation’s economic problems with the active support of international financial institutions like the World Bank Group and the International Monetary Fund.
On 29 July, the National Bank of Ethiopia bank introduced a floating exchange rate regime. The same day, the IMF Board approved an Extended Credit Facility (ECF) arrangement of about USD 3.4 billion, with a USD 1 billion immediate disbursement. The World Bank followed the IMF announcement with the pledge of USD 10.7 billion of funding over the next three years, including a USD 1 billion IDA grant and a USD 500 million concessional loan.
These institutions attest to the country’s correct economic direction, even though the adjustment made to foreign exchange rates has resulted in an immediate inflationary tendency. To lessen inflation, lower foreign debt, and promote self-reliance, the government has been promoting increased production and the replacement of imported commodities.
In the same year, Addis Ababa had the most extensive reconstruction and renovations ever, transforming the city into a contemporary, clean, and ecologically pleasant place to live. The corridor project has been completed one after the other giving the city a fine look. The government has also planned to expand the corridor project to various parts of the country such as Gondar. These all achievements did not come without problems.
Furthermore, Prime Minister Abiy Ahmed’s Dine for Ethiopia initiative has been a means to endorse the country with standard and luxurious tourist attraction sites across the country. Halala Kela, Wenchi, Gorgora, and others are evidence of Ethiopia’s commitment to expanding its tourism sector.
Besides, Ethiopia’s yet Africa’s biggest dam, the Ethiopian Renaissance Dam (GERD) has kept registering results and pushing towards the finishing line. The recent news which was the completion of the 3rd and 4th turbines and the commencement of power generation herald a new energy revolution for the country.
To enter this stage, the construction of the colossal dam has been through various odds. The project has been a target of constant barrages of misinformation and smear campaigns. However, the reliance of the Ethiopian people here and abroad coupled with the unwavering resolve of the incumbent has made it possible to put the dam into the final lap. Now the project will connect millions to the grid.
On the other hand, the country is working on promoting the manufacturing sector by introducing intimations such as Let Ethiopia Produce which enables manufacturers to advert and sell their products to the local market. The initiative if implemented effectively would help the country realize its vision of industrialization.
Although various promising projects are done in the country, Ethiopia should also step up to overcome some of its prominent challenges. The question of inflation has made life hard for most Ethiopians as life expenses are skyrocketing. The government and responsible stakeholders must find a sustainable solution for those challenges.
Similarly, the country has been facing security problems in Amhara, Oromia, and other parts of the country. Inflation continues to pose economic hardships and the Horn region heading to increased uncertainty. These internal and external woes pose tremendous challenges to the country. Yet again, the above success stories also showcase that with hard work and commitment; the country can bypass challenges and meet its priorities.
The coming New Year is a year of national progress and finishing what has been started. Tomorrow is brighter for Ethiopia!
BY DANIEL ALEMAYEHU
THE ETHIOPIAN HERALD TUESDAY 10 SEPTEMBER 2024
