Africa-Press – Ethiopia. Finance Minister of Ethiopia, Ahmed Shide, received Randeep Sarai, Canada’s Secretary of State for International Development, and his delegation for a high-level discussion on bilateral relations and avenues for strengthened cooperation.
Minister Ahmed extended a warm welcome to Sarai and his team, expressing appreciation for Canada’s longstanding partnership with Ethiopia.
The Minister provided an overview of the country’s current macroeconomic landscape, particularly highlighting the bold and transformative reform agenda implemented since Ethiopia entered into a program with the International Monetary Fund (IMF) in July 2024.
Over the past year, Ethiopia has undertaken a historic and comprehensive macroeconomic reform package, encompassing fiscal, monetary, exchange rate, and financial sector policies.
These reforms aim to foster high and stable economic growth, reduce inflation to single digits, and establish a globally competitive economic framework.
Key milestones highlighted by the Minister included improved revenue mobilization has enabled increased allocations to both social services and infrastructure investments. Regarding the modernization of Monetary Policy, new policy instruments have been introduced to enhance liquidity management and price stability. Additionally, inflation has exhibited a consistent downward trend, indicating strengthened macroeconomic fundamentals.
Canada’s Secretary of State for International Development, Sarai expressed gratitude for the warm reception and commended Ethiopia’s reform efforts.
He reaffirmed Canada’s commitment to continue supporting Ethiopia, noting that Ethiopia remains one of the largest recipients of Canadian international assistance.
The Canadian official also introduced his country’s newly developed Africa Strategy, which promotes mutually beneficial partnerships grounded in shared priorities and values.
Sarai underscored Canada’s interest in expanding cooperation under frameworks such as the African Continental Free Trade Area (AfCFTA) and the Foreign Investment Protection Agreement (FIPA).
In response, Minister Ahmed affirmed that Ethiopia has ratified the AfCFTA in alignment with other African nations and is actively engaged on FIPA-related matters.
The meeting concluded with both sides expressing their shared commitment to deepening collaboration and working together toward inclusive and sustainable development, according to Ministry of Finance.
For More News And Analysis About Ethiopia Follow Africa-Press
