The trend of increasing commodity prices, which lasted for about 10 years between 2003 and 2012 has given way to lower global prices, according to the latest United Nations Conference on Trade and Development’s publication entitled Commodities and Development Report 2017.
This report examines the interactions between commodity prices, economic growth and human development.
Findings show that there is a belief prices will remain relatively low in the medium term, as growth in emerging economies has decelerated and, in general, commodity supply has not fully adjusted to weaker demand.
These events have renewed global interest in the relationship between commodity prices on the one hand and economic and human development on the other hand, particularly in Commodity-Dependent Developing Countries (CDDCs), a group that represents more than two-thirds of all developing countries from all regions. In these countries, the evolution of commodity prices has a direct effect on their economic and human development.
In line with the 2030 Development Agenda and in order to inform policy makers on the expected effects of commodity prices on socio-economic indicators by 2030, a simulation model is used to project the trajectory of the world economy and commodity prices to 2030.
From this analysis, the report draws a number of lessons and proposes policy options to address commodity dependence and its effects on socio-economic development. Several country-level commodity case studies are used to illustrate these effects.
It is stated that this report is of relevance for discussions about how developments in the global market, and particularly the evolution of commodity markets, help or hinder CDDCs socio-economic development.
The report was launched this week at the Economic Commission for Africa during at a high level dialogue on dependence on raw materials to industrialization: practical step for African countries. The meeting brought together ministers and high-level government officials from five countries that have large mining sectors and also included Ethiopia.
Global commodity prices declining, UNCTAD report says
Location selection for new international airport to be known by end of Ethiopian year
The final location for a new international airport outside of Addis Ababa is expected to be selected by the end of the current Ethiopian year. According to Ethiopian Group CEO Tewolde Gebre Mariam, the officials selected a location from six possible sites on the road to Adama Town.
“Airport development takes a long time; finding the right location and then accommodating residents in that specific area, we want all this done professionally, if there are some that will be displaced, we need to build a new location and relocate the people,” Tewolde said.
Two criteria were set for the new location, one to be relatively close to Addis Ababa and two to have a lower altitude than the capital city.
“Looking at these criteria, south on the road to Adama has been found to be favorable. Addis Ababa’s altitude is 2,400 feet, and the location mentioned is around 1,900. This will enable us to fly directly from Addis Ababa to Washington DC without having to refuel in Dublin which is what is done today,” he said.
The new airport will have four runways; the current airport has only one runway. The facility will also have the capacity to serve 80 million passengers yearly. Regarding the expansion on the current airport in Addis Ababa, the east wing of the expansion is expected to give service the coming summer, it was stated.
Ethiopian Airlines continues to be is the fastest growing Airlines in Africa. Ethiopian is currently implementing a 15-year strategic plan called Vision 2025 that will see it become the leading aviation group in Africa with seven business centers: Ethiopian Express & Ancillary Services; Ethiopian International Services; Ethiopian Cargo Services; Ethiopian MRO Services; Ethiopian Aviation Academy; ET In-flight Catering; and Ethiopian Ground Services.
Ethiopia Bunna signs wizard from France: Da Rosa
Ethiopia Bunna has once again signed a new boss from France in replacement of the last Serbian head coach Costadin Papic who sneaked out back to his former South African 2nd division club Royal Eagles.
Papic’s cheap move took many football fans by surprise but it might be a good riddance as the man from France is a proven veteran of African club football winning titles and producing talents.
The 48 year-old Didier Gomes Da Rosa’s profile shows that his first destination after some years with French football is Rwanda where he took over at Ryon Sports FC in a three year contract. In seven months he made a spectacular come back from relegation zone to win the 2012-13 championship title thrashing rivals and President Paul Kagme’s favorite Army side APR 4-0. Left Ryon in a mutual consent for the club faced financial deficit. He then signed a two year contract with Cameroon side Cotton Sport. Despite a six point penalty he led his young side to win both Elite Cup and Cameroon Cup in 2014-15 then led the club to Confederation Cup semifinals. The charming coach who prefers a 4-3-3 defensive formation had been with the Algerian 2nd division side JSM Skikda until 17th December 2017.
Though Ethiopia Bunna’s scouting of coaches might be in question, Da Rosa’s arrival could be considered a blessing if and only if he is as good as his record on the Internet. Winning titles and helping the team to stand at equal foot of rival Saint George might be his priority but building an overall team structure could be a huge benefit not only for the Ethiopia Bunna but also for the country’s football. Da Rosa is said to lead the team in his away debut match against Jimma AbaBunna on Monday.
In memory of Ethiopian football legend Mengistu Worku
Seven years ago one of Ethiopia’s greatest footballers, Mengistu Worku aka “Fitawrari” died here in Addis Ababa at the age of seventy. Blessed with a lethal left foot and a superb high header, the striker stands all time as the seventh highest scorer in the history of the African Cup of Nations with ten goals.
Mengistu who played for his entire career with Saint George, donning the now retired number eight jersey, is considered the best ever product of Ethiopian football with a chance to become a professional player in Italy or France except at the time there was an “Ethiopian Pride” sentiment common among many of his fellow countrymen.
The legendary footballer played for Saint George and the Ethiopian national team from 1959-74 with a record 68 goals in 151 international appearances including six African Nations Cup finals. He then coached Saint George, Electric, Ethiopia Medin and Ethiopian Air Lines. Mengistu was the only renowned footballer turned coach to lead Ethiopia to the 1987 African Nation’s Cup final in Libya.
Though a legendary footballer with a colorful enough career that his name deserved to be placed among Yedenekachew Tesema, Abebe Bikila and Mamo Wolde that, Mengistu appeared to have no one to remember him let alone have a statue as well a proper burial place reserved for Ethiopian Heroes at Trinity Cathedral.
It is now seven years since his death and neither his beloved club Saint George nor the Ethiopian Football Federation is ready to pay tribute to the great player who is survived with a wife and five children. Mengistu Worku is remembered by those who knew him a man fully alive.
