Ethiopia’s Prime Minister Abiy Ahmed this Thursday named Fitsum Assefa Adela as Finance Minister in his new cabinet, replacing Ahmed Shide who has become speaker of the lower house of parliament.
Fitsum was formerly Minister of planning and development.
The Horn of Africa country is reworking its external debt under the G20’s Common Framework and is gradually opening up its economy to more private investment.
Ethiopia defaulted on its sole Eurobond in 2023 and earlier this year struck a preliminary restructuring deal with private creditors.
Abiy on Thursday named the chief executive of state-owned Ethio Telecom, Frehiwot Tamiru, as Minister for innovation and technology. Mohammed Edris was made Minister of Defence.
–Reuters–
