ASSESSMENTS

Ethiopia's Ambitious Leader Reaches for the Stars

Sep 18, 2018 | 09:00 GMT

Since taking office, Ethiopian Prime Minister Abiy Ahmed has pushed ambitious reforms and local and regional reconciliation.

Ethiopian Prime Minister Abiy Ahmed speaks during a news conference at his office in Addis Ababa, on Aug. 25, 2018.

(MICHAEL TEWELDE/AFP/Getty Images)

Highlights

  • Addis Ababa will drum up foreign investment by trying to privatize key state-owned industries, but it will continue to grapple with the economic slowdown caused by its foreign exchange shortage.
  • Peace between Ethiopia and its once bitter enemy Eritrea will be a windfall eventually for both sides in terms of regional stability, trade and foreign investment.
  • Chinese interest in large-scale projects in Ethiopia is waning, but the United Arab Emirates appears intent on deepening its investments there.

Ethiopian Prime Minister Abiy Ahmed governs like a man running short on time. After less than six months in office, the youthful leader has presided over impressive internal ethnic and political reconciliation, has established peace with Eritrea and has begun ambitious economic privatization efforts. The changes have come so quickly that many question whether they are sustainable. And while there are many limitations to just how much Abiy can accomplish, it's very possible that he will establish a new level of stability and economic opportunity in the East African country of 100 million people....

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