If former Minister of Finance Sufian Ahmed had said the foreign exchange shortage is structural and will remain with Ethiopia for decades to come, that is precisely what Eyob Tekaleign (PhD), state minister for Finance, would want to see changed. The foreign exchange crunch should stop defining the Ethiopian economy, Eyob declared early on last week, standing before members of the international community, briefing them on the new economic reform agenda conveniently characterised as “homegrown”. The audience was receptive to the "ambitious" reform the administration of Prime Minister Abiy Ahmed (PhD) rolled out and agreed it is "doable".
"The Reform Agenda is our pro-job, pro-growth, and pro-inclusivity pathway to prosperity," said the Prime Minister. "Join us on this path." In the making for over one and a half years, the tabled reform agenda sees a major departure from the previous dogmatic approach in its aim to rebalance macroeconomic fundamentals and sustain growth. A team of experts from the Ministry of Finance, the macroeconomic team of the Prime Minister, and the National Bank of Ethiopia (NBE) designed the plan to be implemented in the next three years. In his address to the international community, the Prime Minister praised members of this group as "Ethiopia's finest minds."