Ethiopia Roundup: IMF support, education, economic issues
Meskel festival
Ethiopians have celebrated the annual Meskel festival to commemorate the discovery of the "True Cross" by Saint Helena in 326 AD. Celebrated on September 27, the festivities, held at Meskel Square in Addis Ababa, attracted thousands of Orthodox believers. The festival is tied to a legend that a fragment of the True Cross has been preserved in Ethiopia since the 14th century at Gishen Debre Kerbe Mariam Monastery. Although Meskel symbolises interfaith unity and the change of seasons, tensions between religious groups have increased in recent years. The celebration is also influenced by Ethiopia's political climate and has shifted focus from military presence to tourism since being recognised as UNESCO Intangible Cultural Heritage in 2013. Pilgrims also journey yearly to Gishen Debre Kerbe Mariam Monastery, underscoring the festival’s significance in Ethiopian culture, La Croix International reports.
IMF support
The International Monetary Fund (IMF) has reached a preliminary agreement to provide Ethiopia with a $3.4 billion extended credit facility over four years. Upon official approval, Ethiopia will receive an initial disbursement of approximately $345 million. This financial support aims to assist Ethiopia in implementing its economic reform program, which includes a market-based foreign exchange rate system initiated in July 2022. According to APA News, the IMF highlights that these reforms are contributing to macroeconomic stability and sustainable growth in the country.
Economic issues
Chinese investors, who have contributed approximately $5 billion to Ethiopia's economy through over 2,000 projects, are increasingly relocating to neighbouring countries like Kenya, Uganda, and Tanzania due to various challenges in Ethiopia. Capital Ethiopia reports that concerns have been raised by both the Chinese Embassy and local officials regarding the impact of this trend on Ethiopia's economic development, as Chinese enterprises have created around 610,000 jobs in the country. Key issues driving this shift include a security crisis, hard-currency shortages, and bureaucratic hurdles, particularly with the customs bureau.
Berlin Marathon
Ethiopian athletes dominated the Berlin Marathon, with Milkeza Mengesha winning the men's race in a personal best of 2:03:17, narrowly defeating Kenyan Sibrian Kotut. In the women's race, Tigist Ketema also emerged victorious, finishing in 2:16:42, which is the third-best marathon time in history. The women's podium was entirely Ethiopian, as Ketema surpassed competitors Mestawet Fikir and Bosenah Mulat by over two minutes. Notably, the marathon occurred just a month after the Olympic Games in Paris, leading some prominent athletes to skip the event, according to Daily Sports.
Recognition of educational programmes
Ethiopia is poised to officially recognise educational programmes for the first time, following two years of efforts by the Education Training Authority to establish accreditation procedures. This recognition allows institutions to operate under a quality assurance framework and encourages universities to seek program accreditation, Capital Ethiopia reports. Re-registration of educational institutions will occur in the first six months of the 2024/25 fiscal year. The initiative aims to enhance the quality and credibility of Ethiopian education, ultimately improving its appeal to students and fostering development. This represents a pivotal advancement in Ethiopia's education sector, facilitating alignment with local and global standards.
