economic

Although achieving lower middle-income status by 2025 is ambitious, Ethiopia is making strides in combating poverty and improving economic growth with the poverty rate falling from 44% in 2000 to 23.5% in 2015-16. By Bashir Ali (Global Risk Insights) | Not many may know that Ethiopia was among the first countries to join the International Monetary Fund (IMF) when the latter was formed on 27 December 1945.  Nevertheless, it took another 72 years for Ethiopia to welcome its first visit from the IMF Managing Director, in this case, Christine Lagarde who in December 2017 visited Addis Ababa, Ethiopia and met with Prime Minister Hailemariam Desalegn. This followed the IMF’s  assertion that in 2017 Ethiopia’s economy surpassed Kenya’s to become East Africa’s largest economy. Lagarde’s visit served as the latest stamp of approval for Ethiopia’s bold plan to reach lower-middle income status by 2025. Ethiopia’s growing economy It was Ethiopia’s late President Meles Zenawi who cr…