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The Minister of Finance Ahmed Shide discussed with the finance ministers of the Group of 7 member countries
The Minister of Finance Mr. Ahmed Shide and the Governor of the National Bank, Mr. Yingare Dese, who participated in the annual meeting of the World Bank and the International Monetary Fund, participated in the first meeting of the finance ministers of the Group of 7 member countries together with representatives of various African countries as well as representatives of donor and creditor countries.
The Ethiopian Embassy in the US announced that the meeting focused on facilitating the implementation of the common debt management framework in an effective manner and increasing economic cooperation with Africa's major international partners.
In his speech at the meeting, the Minister of Finance, Ahmed Shide, listed the economic achievements that Ethiopia has achieved in the past few years as well as the challenges that it has faced.
He explained that the national reforms that Ethiopia has talked about have enabled the country to cope with the many obstacles it has faced and the difficult global economic situation.
According to the minister, it was possible to halve the share of debt of government enterprises which was making Ethiopia vulnerable with the reform works done in the last 4 years.
He pointed out that the government is gradually opening up the economy to the foreign market, removing the loss-making fuel subsidy and following a market-oriented exchange rate as some of the main effective actions.