Ethiopia’s public debt has reached a total of $68.86 billion by June 2024, according to the Ministry of Finance’s recently released Public Sector Debt Portfolio AnalysisNo. 25. This figure represents 32.9% of the nation’s GDP, marking a decline from 57.2% in 2019, signaling progress in managing debt levels. However, the report highlights ongoing challenges that demand careful attention as Ethiopia balances its development goals with fiscal sustainability. Shifts in Debt Composition The composition of Ethiopia’s debt has shifted significantly over the last five years. Domestic debt has grown by 51.9%, driven by the government’s increased reliance on Treasury bills, long-term bonds, and advances from the National Bank of Ethiopia. As a result, domestic debt now accounts for 57.7% of the total, up from 47.7% in 2019/20. In contrast, external debt growth has slowed, with a current total of $28.89 billion, reflecting a deliberate pivot toward concessional borrowing. Multilateral creditors, such as...

Wednesday January 22, 2025 Mogadishu (HOL) – Somali President Hassan Sheikh Mohamud received the African Presidential Leadership Award on Tuesday at a ceremony hosted by Africa House in Davos, Switzerland.  The award recognizes President Mohamud’s leadership and unwavering commitment to advancing state-building efforts in Somalia. Africa House commended his role in guiding the nation through critical reforms and milestones.  “This award is a tribute to the resilience, courage, and determination of the Somali people. Their unwavering spirit fuels our mission to rebuild our nation and contribute to the progress of our great continent, Africa. I am deeply humbled and honored to receive this recognition I dedicate to the Somali people. Together, we are proving that hope and hard work can turn challenges into opportunities,” President Mohamud said. Under President Mohamud’s leadership, Somalia has achieved significant milestones, including the historic lifting of a decades-long arms embargo, the completion of the debt...

Mogadishu, (SONNA) – The Chairman of the National Electoral Commission and Boundaries, Abdikarin Ahmed Hassan, held a press conference in Mogadishu to outline the election schedule, political party registration, and the commission’s recent activities. Chairman Abdikarin announced that the registration of political associations officially commenced today, January 20, 2025, and will continue until March 31, 2025. During this period, political associations will be issued recognition certificates. He also noted that previously registered associations will need to reapply for new certificates in compliance with updated regulations, a process that will be free of charge. The Chairman emphasized that the commission is committed to reaching all regions of the country, ensuring that citizens across Somalia can exercise their right to vote and elect their political representatives. This initiative is aimed at transitioning away from indirect elections, which have been the norm in recent years. Source: Sonna Source link

Tuesday January 21, 2025 Mogadishu (HOL) — Somalia’s National Intelligence and Security Agency (NISA) has warned businesses, brokers, and drivers against paying extortion money to Al-Shabaab, threatening legal action against those involved in financing the militant group.  The intelligence agency issued the warning Tuesday, emphasizing that individuals found aiding or abetting the group will be prosecuted. The statement follows a December 4, 2024, decree from President Hassan Sheikh Mohamud aimed at cutting off funding sources for the Islamist group.  “NISA is actively monitoring all suspected activities related to financing Al-Shabaab. Those implicated will face justice,” the agency said, urging citizens to collaborate with security services to enhance public safety and stability.  In recent months, the Somali government has intensified efforts to dismantle Al-Shabaab’s financial networks, shutting down mobile money and bank accounts used to support the group. The crackdown is part of a broader strategy accompanying military operations against the...

WASHINGTON (Reuters) – U.S. President Donald Trump has officially announced the creation of an advisory group aimed at carrying out dramatic cuts to the U.S. government, attracting immediate lawsuits challenging its operations. Tesla and SpaceX CEO Elon Musk arrives to the inauguration of U.S. President-elect Donald Trump in the Rotunda of the U.S. Capitol on January 20, 2025 in Washington, DC. Chip Somodevilla/Pool via REUTERS The group — dubbed the Department of Government Efficiency, or “DOGE” — is being co-run by Tesla (TSLA.O), CEO Elon Musk and has grandiose goals of eliminating entire federal agencies and cutting three quarters of federal government jobs. Failed Republican presidential candidate Vivek Ramaswamy is a co-chair but will announce his departure from DOGE next week as he gears up for a governor’s race in Ohio, a person familiar with Ramaswamy’s plans said. “To restore competence and effectiveness to our federal government, my administration will establish the brand...

Tuesday January 21, 2025 Mogadishu (HOL) — The Union for Peace and Development (UPD) party, led by Somali President Hassan Sheikh Mohamud, has expressed support for the newly announced registration process for political organizations despite opposition from leaders in Puntland and Jubbaland states.  In a statement released Monday, the UPD, a provisionally registered party, affirmed its commitment to meeting the requirements outlined in Somalia’s Law on Political Organizations and Parties. The party emphasized that the development of a multi-party democratic system is essential for resolving the country’s political challenges.  “The solution to our country’s political problems lies partly in the implementation of a multi-party democratic system,” the UPD stated, adding that such a system would empower Somali citizens, particularly the younger generation, to freely elect their leaders and representatives across various levels of government.  The National Electoral Commission and Boundaries announced Monday that registration for political organizations would run from...

By Khalid Hassan Yusuf  Arab historians who wrote about the history of the Horn of Africa region in the fifteenth and sixteenth centuries AD, spoke about the division of Muslims before the kings of Abyssinia. These Islamic-style emirates were subject to the control of the kings of Abyssinia, who were forcefully taking royalties from them. However, Sultan Haq al-Din came and revolted against the reality of the Sultanate of Ifat’s submission to the Abyssinians. The Sultan Haq al-Din’s struggle attempt was met with the rejection of the notables of Ifat who refused to confront the Abyssinians, and decided to continue paying tribute to their opponents out of fear. Thus, aborting his attempt to obtain their freedom and assert their sovereignty over their lands. Some of the rulers of the Emirate of Ifat, descended from the family of Omar and WelSama, became prisoners of the kings of Abyssinia, who controlled them...

Monday January 20, 2025 U.S. President Donald Trump takes oath on the day of his Presidential Inauguration at the Rotunda of the U.S. Capitol in Washington, U.S., Jan. 20, 2025. (Reuters Photo) President Donald Trump was sworn in for his second term in office, signaling a significant transformation in the U.S. government that is anticipated to have far-reaching effects on American society and the global community. “I, Donald John Trump do solemnly swear that I will faithfully execute the Office of President of the United States, and will, to the best of my ability, preserve, protect and defend the Constitution of the United States,” Trump said in brief remarks at the U.S. Capitol. bewsinsideFollowing the inauguration, the president is slated to depart the Capitol and head to the nearby Capital One Arena, where he will address his supporters during a rally that will also feature a presidential parade. It remains...

KIAMBU, Kenya (AP) — Turn into Tatu City on the outskirts of Kenya’s capital, Nairobi, and it feels like entering a different world. Even the country’s most reckless drivers are transformed, slowing to a crawl and not tossing trash out the window — thanks to surveillance cameras and rigorously enforced penalties for speeding and littering. Main entrance of Tatu city, a start up city/AP photo For the 5,000 people who have moved into Tatu, a “startup city” that welcomed its first residents four years ago, the ruthless upholding of such rules makes the place appealing. “Tatu has more law and order than other places,” said Valerie Akoko, a digital content creator who moved in two years ago. “I’ve never seen Tatu City dirty.” Situated on 5,000 acres, Tatu City aspires to be what its name suggests: a city, privately owned, that its designers hope will eventually have a population of 250,000. It...

Monday January 20, 2025 Garowe (HOL) – At least six members of Puntland’s security forces were killed on Monday morning in a roadside explosion in the Bari region, according to local residents.  The blast reportedly targeted a military vehicle passing through Tasjiic village in Bari. Initial reports suggest the Islamic State (ISIS) group may have been responsible for the attack, which occurred shortly after Puntland forces launched operations targeting ISIS positions in Bari’s mountainous areas. Just two days prior, Puntland officials visited Tasjiic to rally community support, collecting livestock donations to enhance the morale of security forces engaged in anti-ISIS operations. The Bari region has witnessed a surge in roadside bombings since Puntland forces began their military campaign against ISIS. Monday’s attack stands out as one of the most lethal incidents in recent memory. Source link