Ethiopia is at the forefront of discussions aimed at reforming the global financial architecture, as highlighted in a recent report by the United Nations Economic Commission for Africa (UNECA). This report, prepared in consultation with African finance ministers and other stakeholders, emphasizes the need for a more equitable financial system that addresses the unique challenges faced by low- and middle-income countries.

The report comes at a critical time when Ethiopia, like many African nations, is grappling with various economic pressures, including rising public debt, inflation, and the lingering effects of the COVID-19 pandemic. The call for reform is rooted in the recognition that existing financial structures often fail to meet the needs of developing economies, leaving them vulnerable to external shocks and limiting their growth potential.

Ethiopia’s participation in this dialogue underscores its commitment to advocating for changes that will enhance its economic resilience. The UNECA report outlines several key principles aimed at transforming the International Monetary Fund (IMF) into a more responsive institution capable of addressing contemporary economic challenges.

One of the central themes of the UNECA report is the need for a rule-based approach to Special Drawing Rights (SDRs) allocation. Currently, SDRs are distributed based on quotas that do not necessarily reflect the liquidity needs of countries. The report suggests that establishing clearer guidelines would allow for a more equitable distribution of resources, particularly benefiting nations like Ethiopia that are often in need of financial support.

Additionally, the report advocates for a shift in focus from short-term balance-of-payments issues to long-term developmental goals. This perspective aligns with Ethiopia’s vision of sustainable growth, emphasizing investments in infrastructure, agriculture, and renewable energy as essential components of its economic strategy.

The UNECA report also highlights the structural inequalities present within the global financial system. With a significant portion of IMF quotas concentrated among a small number of high-income countries, there is a pressing need to reevaluate how resources are allocated. Ethiopia’s leadership in this discussion aims to ensure that African nations have a stronger voice in shaping policies that directly affect their economies.

The report calls for reforms that not only adjust quotas but also address broader issues such as access to affordable financing and improved debt resolution frameworks. These changes are crucial for countries like Ethiopia, where access to capital can significantly impact development outcomes.

In addition to advocating for structural reforms within the IMF, Ethiopia is also pushing for closer collaboration between international financial institutions. The UNECA report emphasizes the importance of partnerships between the IMF, World Bank, and other multilateral development banks (MDBs) to mobilize additional resources for development projects.

Ethiopia’s commitment to green development aligns with these collaborative efforts. The country has made significant strides in promoting renewable energy and sustainable agricultural practices, positioning itself as a leader in environmental stewardship within Africa.

By participating actively in these discussions, Ethiopia aims not only to secure better financial resources for itself but also to contribute to a broader movement advocating for change across Africa. The path forward requires collaboration, innovation, and a commitment to addressing the structural inequalities that have long hindered progress in developing economies.

Ethiopia and France are reinforcing their longstanding relationship through a new educational agreement aimed at enhancing access to quality education for Ethiopian students. The partnership was highlighted during a recent signing ceremony involving Jean-Noël Barrot, France’s Minister for Europe and Foreign Affairs, and Minister of Education, Berhanu Nega.

The agreement builds on the foundation established by the Lycée Gebre-Mariam School, which has been a cornerstone of Franco-Ethiopian educational cooperation since its establishment in 1947. Recognized as one of Ethiopia’s leading private schools, Lycée Gebre-Mariam has provided quality education to thousands of students over the past 77 years.

Under the new Memorandum of Understanding (MoU), the Lycée will award scholarships to 10% of its student body, specifically targeting students from underprivileged backgrounds. This initiative aims to ensure that quality education is accessible to all, regardless of economic status.

During the agreement signing, Minister Barrot emphasized the significance of this partnership, stating, “Today marks the end of the eighth edition of the week of French high schools around the world. This agreement allows us to continue the work started 77 years ago and opens a new chapter in our educational collaboration.”

Berhanu Nega expressed his enthusiasm about the enhanced agreement, highlighting that it aims to provide full scholarships for 10% of new students from poor families. He noted that this revised agreement reflects a commitment to improving educational opportunities for disadvantaged groups.

The Lycée Gebre-Mariam School currently educates more than 1,800 students, with approximately 70% being Ethiopian nationals. The institution operates under the French Secular Mission and adheres to national education standards from primary through secondary levels.

This renewed commitment to education aligns with broader efforts to strengthen diplomatic, economic, cultural, and educational ties between Ethiopia and France. Despite occasional challenges in aligning mutual interests, both countries continue to foster collaboration that benefits their citizens.

Ethiotelecom has announced a significant partnership with Djibouti Telecom and Sudatel Telecom Group to advance global telecommunications connectivity through the Horizon Fiber Initiative. This collaboration aims to establish high-capacity (multi-terabit) fiber connectivity, enhancing communication capabilities across Africa and beyond.

The partnership was formalized with a signing agreement that includes a technical team from all three telecom operators, which has been working since June 2024 to ensure cross-border connectivity excellence. Frehiowt Tamiru, CEO of Ethiotelecom, stated that this initiative will enable the development of an alternative fiber line with high capacity, leveraging the combined infrastructure and expertise of the involved companies.

“This strategic partnership will create the most reliable and advanced connectivity in the region, transforming Africa’s digital infrastructure,” Frehiwot added. The initiative aims to deploy a robust underground fiber optic network that will significantly improve digital communication in the region.

The key objectives of the Horizon Fiber Initiative include enhancing network capacity by providing a reliable alternative to existing telecom service lines, facilitating direct data transmission, and supporting economic growth through accelerated digital transformation. The initiative also aims to bolster local industries and improve international trade efficiency.

The project seeks to address ongoing connectivity challenges posed by aging marine infrastructure in the Red Sea, which has been prone to damage from natural disasters and collisions. By establishing a terrestrial fiber network, the Horizon Fiber Initiative aims to mitigate disruptions in intercontinental communications caused by these vulnerabilities.

A groundbreaking report from the United Nations Convention to Combat Desertification (UNCCD) reveals alarming trends in global aridity, indicating that over three-quarters of the world’s land has become permanently drier in recent decades. The report, titled “The Global Threat of Drying Lands: Regional and Global Aridity Trends and Future Projections,” emphasizes the urgent need for comprehensive strategies to combat the escalating impacts of aridity on ecosystems and human communities.

The report outlines that more than 40% of the planet’s land area is now classified as drylands, an expansion of approximately 4.3 million square kilometers—an area roughly half the size of Australia. This shift has significant implications for food security, biodiversity, and overall ecosystem health. The findings indicate that if current greenhouse gas emissions trends continue, an additional 3% of the world’s humid areas could transform into drylands by the end of this century.

Currently, around 2.3 billion people, or more than a quarter of the global population, live in drylands. Projections suggest that this number could rise to as many as 5 billion by 2100 if climate change continues unchecked.

The report highlights the multifaceted impacts of rising aridity, which include increased land degradation, water scarcity, and heightened risks of desertification. These changes are linked to severe consequences such as poor soil fertility, crop losses, declines in biodiversity, and greater frequency of sand and dust storms. Additionally, the health implications are dire, with aridity-related water scarcity contributing to illness and death while also driving large-scale forced migration.

UNCCD Executive Secretary Ibrahim Thiaw emphasized the importance of understanding aridity as a critical environmental challenge that requires immediate action. The report advocates for a shift in focus from short-term drought responses to long-term adaptation strategies that address the underlying causes of rising aridity.

To effectively combat these challenges, the report recommends adopting a widely accepted climatic approach based on the Aridity Index (AI), which measures aridity using the ratio of precipitation to potential evapotranspiration over extended periods. This approach will help distinguish between temporary drought conditions and long-term arid climates.