Ethiopia’s Prime Minister Abiy Ahmed on Thursday named Fitsum Assefa Adela as finance minister in his new cabinet, replacing Ahmed Shide, who has become speaker of the lower house of parliament.
Fitsum was formerly the minister of planning and development.
The Horn of Africa country is reworking its external debt under the G20’s Common Framework and is gradually opening up its economy to more private investment.
Read more: Government forces seize capital of Ethiopia’s Tigray region from rebels
Ethiopia defaulted on its sole Eurobond in 2023, and earlier this year struck a preliminary restructuring deal with private creditors.
Abiy on Thursday named the chief executive of state-owned Ethio Telecom, Frehiwot Tamiru, as minister for innovation and technology. Mohammed Edris was made minister of defence.
- Ethiopia's Prime Minister Abiy Ahmed appointed Fitsum Assefa Adela as finance minister, replacing Ahmed Shide.
- Ahmed Shide has become the speaker of the lower house of parliament.
- Fitsum Assefa Adela was previously the minister of planning and development.
- Ethiopia is reworking its external debt under the G20's Common Framework and gradually opening its economy to private investment.
- Abiy Ahmed also named Frehiwot Tamiru as minister for innovation and technology and Mohammed Edris as minister of defence.
