What the IMF Fifth Review Actually Says About Ethiopia's Reform Trajectory

The press release said "solid progress." The staff report said enterprise risk has risen since the fourth review and all three top-tier external risks are rated high likelihood.

Liberalization of Ethiopia’s Banking Sector: Foreign Entry, Competition, and Digital Finance

Ethiopia’s banking sector is coming full circle. From foreign-led origins to decades of closure, the 2025 reforms mark a pivotal reopening. What does this mean for competition, capital, and financial inclusion?

Ethiopia's Electric Leap and the Road It Hasn't Built

Ethiopia banned petrol car imports in 2024. EVs are now 60%+ of new registrations. But only 22% of households have a metered grid connection, and just 27% will by 2030.

Addis Moves to Stabilize Construction Inputs with New Mineral Licensing

Addis Ababa’s new construction minerals directive introduces tighter licensing, environmental guarantees, and exclusion zones

Punctual, Not Audacious

The most interesting thing about Ethiopia's credit cap isn't that it's gone. It's that it was measured against total loans. The dominant state bank had the most room to lend underneath it.

Too Big to Regulate? CBE Says It Accounts for 70% of Digital Transactions

CBE reports processing 22.24 trillion Br in digital transactions and holding a 70% market share. Combined with Telebirr, two state-linked entities could now account for close to 80% of transaction value.

Ethiopia's Eurobond Restructuring is a Second Act, Not a Finale

Ethiopia's Eurobond restructuring agreement in principle closes one chapter of a five-year debt saga. The structural questions it leaves open are more consequential than the headline haircut suggests.

Ethiopia's Small-Scale Oil Producers Are Coming Back. But the Rules That Once Squeezed Them Out Haven't Left.

Ethiopians are pressing their own noug oil again, powered by cheap machines and a booming TikTok trade. Regulatory standards could shut them down again.