International Monetary Fund (IMF) on Tuesday said government policies have been playing key role in registering ongoing economic growth and sustaining it in Ethiopia.
IMF special envoy Kal Wajid made the remark after holding talks with Prime Minister Hailemariam Desalegn in Addis Ababa.
The IMF envoy said this year's economic growth of Ethiopia is estimated to seven percent while the Ethiopian government says over 11 percent growth is expected.
Policies and strategies set by the Ethiopian government are registering results, he said. The envoy, however, suggested the need to give due attention to the private sector, especially in facilitating supports such as bank loans.
Prime Minister Hailemariam for his part said his government would give the necessary attention to the private sector so that it can play its role in the development of the nation, particularly by advancing infrastructure.
A blast on the bed rock of the Blue Nile, prepares for the construction of diversion culverts. It will allow permanent flow of the river after the completion of the hydropower dam that Ethiopia is currently constructing on the Blue Nile. Heavy vehicles carry rocks and soil to fill the space created by the diversion on the river.
Video: Ethiopia determined to complete dam by 2017
The target of the Ethiopian government is to build a power dam 145metres high and 1780 meters long, which at full capacity will hold 74 billion cubic meters of water, 16 units of power production and two power houses.
Upon its completion in the year 2017, The Great Ethiopian Renaissance Dam is expected to start producing 6000MW of power. This will make it the biggest hydropower project in Africa and the seven biggest in the world.
However, at the construction goes on, Egypt, which receives water from this Blue Nile, remains concerned. Egypt says that the diversion of the main course of the river made by Ethiopia will affect the normal flow of water into its territory. The Ethiopian government has strongly denied the claim, saying diversion is inevitable while constructing a dam on the river.
To further support its claims, the Ethiopian government is also fronting the fact that it has chosen to use Salini Costuttori, an Italian company that has the record of building 20 big dams in four continents. On March 2011, this company was awarded the 4.8 billion dollar contract, without competitive bidding.
Egypt says its concerns arise from the fact that it’s facing a water crisis as its population increases. In the 1960s, the average water share per person was 2,800 cubic meters. Now, the figure has dropped to 600 cubic meters, much below the poverty line, which is 1,000 cubic meters per
The Nile is the longest river in the world, flowing through some 11 countries, including Ethiopia, South Sudan, Sudan and Egypt. It is the primary source of water for many of these countries, particularly Sudan and Egypt, whose mainly desert landmass is made fertile by the river as it flows into the Mediterranean.
Egypt insists that it reserves the right to hold on to the largest share of the Nile water based on the British Nile Water Agreement of 1959.However , the other beneficiaries with the exception of Sudan have agreed to a new arrangement of using the Nile under a new forum called, the Nile Basin initiative.
Strong emotions rise to the surface when discussions turn to the Nile, the world’s longest river. Most debate swirls around control of its basin which is shared by 11 African nations. Politicians and others have pondered the chances of a war over its life-giving waters: slim but increasing given the escalating tensions over Ethiopia’s plan to build a massive hydropower dam on the river.
“For Egypt the Nile equals life,” affirms Mohamed Edrees, Egypt’s ambassador to Ethiopia. “It is almost the only source of water for Egypt and that means that it is the only source of life. So it’s obvious that this issue, for Egyptians, is of vital importance and of high sensitivity. It is an issue of existence.”
The Nile basin covers almost 10% of Africa’s landmass (3.1m km2) and supports over 200m people, more than half living below the poverty line and dependent on rainfed agriculture for their survival.
IRISH rugby star Ian Madigan says he has been blown away by the resilience of Ethiopian street children on his visit with the aid agency GOAL.
The out-half is there along with fellow Leinster player Leo Cullen as part of a humanitarian visit along with GOAL chief executive Barry Andrews.
In his daily blog on the trip, the 24-year-old Dubliner said he had been impressed with the children he met during a tour of the charity's ChildSPACE drop-in centre in the capital, Addis Ababa.
It provides support to some of the estimated 60,000 street children who eke out a meagre living on the streets of the capital.
"The kids at the centre we visited are so positive and resolute. No doubt that's down to the great work that GOAL does," he said.
Tullow Oil’s (LON:TLW) update Wednesday provided plenty of encouragement for juniors working close to the explorer in frontier plays in Kenya and Ethiopia.
It said the flow testing programme at Ngamia-1 in Kenya’s Lokichar Basin has now been successfully completed with a cumulative constrained flow rate totalling 3,200 barrels of 25 to 35 degree API sweet waxy crude and no indication of pressure depletion.
Staying with Kenya, the drilling of the Etuko prospect, the first test of a basin flank play in the South Lockichar Basin, confirmed a new oil discovery with net pay of over 40 metres in the Auwerwer and Upper Lokhone targets. The well is now drilling the Lower Lokhone sands and results from this lower section are expected by the end of this month, Tullow said.
In Ethiopia, the Sabisa-1 well, the most northerly on its East African acreage to date, has established that the hydrocarbon system in that area is oil prone.
Eighteen Su-30K fighter jets that India returned to Russia, probably will not be sold to Vietnam, but instead is Ethiopia.
Deputy Group Director arms exporter Rosoboronexport Alexander Mikheyev said that Russia is negotiating to supply 18 Su-30K fighters to Ethiopia.
Eighteen multipurpose fighters were returned to India to replace the Russian fighter Su-30MKI is newer.
“We are in consultation with Ethiopia for the supply of the fighter. They have proposed a variant to modernize, enhance combat capability as well as the specification and provide additional tactics the rocket – to – land/sea more advanced,” said Mikheyev said.
The Rosoboronexport officials also stressed that, at present, four Su-30K first being repaired at a local aircraft factory.
“Just got the proposal from customers and financial resources, we are ready to upgrade and modernize all 18 Su-30K aircraft within 4-6 months,” he said Mikheyev.
Complete 18 Su-30K aircraft the IAF was not used in 10 years time, then returned to Russia. This aircraft was delivered to some 5 factories in Belarus to repair and upgrade, before being sold to 3rd party without giving back to Russia to avoid import taxes.
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