Egypt looks for ‘win-win’ situation with Ethiopia over dam

Egypt looks for ‘win-win’ situation with Ethiopia over dam

Egypt entered into negotiations with Ethiopia and Sudan in Khartoum on Monday with the objective of convincing Ethi[...]

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Ethiopian athletes planned to seek asylum–AP

EUGENE, Ore. (AP) - One of four Ethiopian athletes who went missing during an international track meet in Eugene to[...]

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Egypt says it has new ‘vision’ for Ethiopia’s dam

Egypt's Irrigation Minister Hossam El-Moghazi told privately owned Mehwar channel that Egypt has a new "vision" reg[...]

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World Bank Urges Ethiopia to Devalue Birr to Boost Exports

Ethiopia’s birr is overvalued and the country would benefit from a devaluation to boost export revenue and accele[...]

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US doctor who had Ebola has recovered

ATLANTA (AP) — At least one of the two American aid workers who were infected with the deadly Ebola virus in Africa has recovered and was to be discharged Thursday from an Atlanta hospital, a spokeswoman for the aid group he was working for said.

Attention to all African community members at home or abroad

The reports of outbreaks of the Ebola virus disease in the West African nations of Sierra Leone, Guinea and Liberia, and of cases of Ebola infection in nearby Nigeria,

In order to protect the health and safety of our African community members at home and abroad, and in accordance with recent guidance from the U.S. Centers for Disease Control and Prevention (CDC),

President Obama’s troubling dinner party

The Obama administration erred on the side of inclusion in deciding which leaders to invite to its ambitious U.S.-Africa summit this week — at least in the view of human rights advocates..

The guest list featured some of Africa’s nastiest tyrants, including autocrats such as Angola’s Jose Eduardo dos Santos and Equatorial Guinea’s Teodoro Obiang Nguema Mbasogo, who traveled to Washington for the summit, which included an official dinner at the White House.

US companies falling behind as Africa surges

WASHINGTON (AP) — As Africa’s economy rises, American businesses are at risk of being left behind.

“We are missing the boat” was the sour warning former President Bill Clinton issued Tuesday at an otherwise upbeat U.S.-Africa Leaders Summit here.

Sub-Saharan Africa has enjoyed nearly 6 percent annual economic growth for the past decade. And the robust expansion is expected to endure through the decade. Ernst & Young calls Africa the world’s second-most attractive market for investment behind North America.

The Devaluation of the Birr: A Layman’s Guide, Part 2

At the outset, I agree with Mr. Lars Moller, the Work Bank’s chief economist in Ethiopia that the birr is overvalued. The main driver of the birr’s overvaluation is the country’s ongoing high inflation rates. There are indeed other contributing factors to the overvaluation of the birr, some of them being the influx of remittances and foreign aid (these latter two also being partial conduits for the massive illicit financial flows) as well as the suppressed trade and exchange rate markets- including the suppressed, battered and interfered parallel exchange market.

Billions of dollars in deals and funding to be announced at Africa summit

WASHINGTON (Reuters) – The United States will announce nearly $1 billion in business deals, increase funding for peacekeeping and commit billions of dollars to expanding food and power programs in Africa during a summit this week, U.S. and development officials say.

U.S. officials said the Aug. 4-6 summit in Washington of nearly 50 African leaders hopes to showcase U.S. interest in the fast-growing region through a series of government-private partnership deals to boost trade and investment.

America’s Africa: Command- or Market-based?

There is a familiar argument that in the early stages of economic development, African countries do not need democracy. They just need command growth. Democracy will naturally follow. Southeast Asian countries, such as, South Korea are given as examples.

However, command growth cannot lend itself to democracy because the two are incompatible. There is only one democracy, and that is free market democracy. Thus, the real choice facing Africa today is between command growth and market-based-democratic growth. In the former, the economy is mainly organized by a central authority. In the latter, the free market organizes the economy through independent decision-making by individuals.

American aid worker stricken with Ebola lands in U.S. for treatment

ATLANTA (Reuters) – The first of two American aid workers infected with the deadly Ebola virus while in Liberia landed in the United States on Saturday, en route to an Atlanta hospital for treatment.

A chartered medical aircraft carrying Dr. Kent Brantly touched down at Dobbins Air Reserve Base in Marietta, Georgia shortly before noon, a base spokesman said

The Devaluation of the Birr: A Layman’s Guide

Hitherto, I have been reluctant to post a commentary regarding the World Bank’s suggested birr devaluation measure which is still being debated as we speak. I was reluctant partly because my highly received 2010 commentary addressed many of the issues that seem new today and partly because I did not have (and have yet to) access to the full paper that the World Bank’s Ethiopian representatives have worked on. I decided to disseminate this commentary partly to remind concerned individuals that the predictions that my 2010 commentary has made are largely born out to be true and previous birr devaluations measures were largely ineffective. I also observed errors and misunderstandings made by commentators, bloggers and the general public regarding this issue.

DO NOT DEVALUE THE BIRR: Ignore the World Bank

The recent poisoned advice from the World Bank to devalue the Birr by another 10% is a sure process of killing the Ethiopian economy for good. What they are attempting is to get at China through such pariah-nibbling at small economies around the world where China has gained well-earned influence and often mutually beneficial partnerships with numerous developing countries.
“Lars Moller, the bank’s chief economist in Ethiopia, told reporters today in the capital, Addis Ababa,” about the 10% devaluation so reported William Davison in his short article “World Bank Urges Ethiopia to Devalue Birr to Boost Exports,” Bloomberg, Jul 22, 2014.