Gov’t to restructure MoFA, MoFEC

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The central government is considering to include the economic cooperation duty, which is currently managed by the Ministry of Finance and Economic Cooperation (MoFEC), under the Ministry of Foreign Affairs (MoFA), Capital learnt.
The country’s foreign policy is focused on economic diplomacy and trying to have more of an international footprint. MoFA is working to expand economic cooperation with international organs.mofec
A source at MoFEC told Capital recently that the issue is being studied to see possible ways to integrate economic cooperation under MoFA.
Experts said that MoFA is working to lobby and find finance for developmental projects. On the other hand MoFEC is the responsible body to conclude the coming finance agreements and overlook the dispersed finance that comes from overseas.
Sometimes that finance is misused however, for example some of the recent corruption in the news came as a result of brokers who promised to conclude loan deals that came from China for sugar projects when they took commissions illegally on the deals.
Haji Ibsa, Public Relation head of MoFEC, told Capital that he thinks that at the current stage the diplomatic mission of Ethiopia is working in the economic area.
“It is the joint mission that the two government bodies handle,” he added. “MoFEC is undertaking the economic cooperation in an organized and strong manner since it is our mandate,” he added.
He recalled that the economic cooperation mandate was at MoFA but when the Ministry of Finance and Economic Development was restructured to MoFEC the mandate was given to MoFEC to manage and organize the economic cooperation and finance that comes from abroad and the development has transferred to the Plan Commission, which was established in the first Growth and Transformation Plan (GTP I).
According to sources, MoFA will be a focus point of dealing with international financers that are donors or loan providers and manage the coming finances partially according to the rules of the country’s finance management, which is managed by MoFEC.
Two years ago when Prime Minister Hailemariam Dessalegn restructured his cabinet, he introduced the new responsibility of MoFEC. The study about taking the economic cooperation to MoFA was considered over the last year, according to sources.
“If the issue is correct it will occur after the end of the current GTP that will end mid-2020,” Haji said.