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Ethiopian Finance Minister Ahmed Shide Engages in Key Bilateral Talks with U.S. Officials Amid WB-IMF Annual Meetings

October 2024 – Washington, D.C. In an effort to strengthen economic ties and seek collaborative solutions to Ethiopia’s financial challenges, an Ethiopian delegation led by Finance Minister H.E. Ahmed Shide held pivotal discussions with U.S. representatives on the sidelines of the 2024 World Bank Group and International Monetary Fund (IMF) Annual Meetings in Washington, D.C. The talks featured a detailed exchange with U.S. Assistant Secretary of State for African Affairs Ambassador Molly Phee and U.S. Treasury Assistant Secretary for International Affairs Brent Neiman.

During the discussions, Minister Shide outlined Ethiopia’s current economic landscape, shedding light on recent political developments and the country’s ambitious economic reform agenda. He highlighted the strides made in restructuring Ethiopia’s macroeconomic policies and emphasized the critical role of international partnerships in sustaining this progress. Central to these discussions was Ethiopia’s need for expedited support from development allies to finalize the country’s debt restructuring under the G20 Common Framework. This mechanism, designed to provide debt relief to the world’s most vulnerable economies, holds significant promise for Ethiopia as it continues its recovery efforts.

The U.S. officials commended Ethiopia’s reform achievements, particularly the protections provided to vulnerable households during the transition. This acknowledgment underscored the U.S.’s appreciation of Ethiopia’s commitment to minimizing the social impact of economic adjustments. Both Ambassador Phee and Assistant Secretary Neiman reaffirmed the U.S.’s support for Ethiopia’s debt relief efforts, assuring Minister Shide of continued U.S. advocacy within key global forums. Among these is the Global Sovereign Debt Roundtable, a vital platform for discussions on equitable debt treatment, which the U.S. pledged to leverage in support of Ethiopia’s case.

Beyond immediate financial concerns, the Ethiopian and U.S. delegations also discussed ways to strengthen the long-standing partnership between the two nations. Both sides expressed a commitment to exploring avenues for collaboration across multilateral platforms, including the IMF and World Bank, recognizing the potential to drive sustained economic growth and stability in Ethiopia.

This round of high-level talks between Ethiopian and U.S. officials signals a renewed commitment to collaborative solutions, setting the stage for a deeper, more strategic partnership. By harnessing both bilateral and multilateral channels, Ethiopia and the U.S. aim to build a resilient foundation for Ethiopia’s economic future, benefiting not only the country but also the broader region.

#Ethiopia #USRelations #EconomicReform #DebtRelief #WorldBank #IMFMeetings #G20Framework #GlobalEconomy #USAfricaRelations #FinanceDiplomacy #DevelopmentPartners #SustainableGrowth #BilateralRelations

Habtamu Alemu

Habtamu Alemu is a seasoned journalist and the editor-in-chief of Ethio Eyewitness News.

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