Due to poverty, the vast majority of Ethiopian youth are unable to get adequate and quality education. Neither do the circumstances of their families allow them to have the necessary financial support to start a business.

In the good old days, Civil Society Organizations (CSOs) in Ethiopia played a significant role, at least when natural and man-made disasters affected lives. They were regarded as development partners of the government following the ousting of the military government. One should also note that this honeymoon was almost following the publication of the internationally controversial book of the celebrated journalist and historical analyst Graham Hancock, ‘Lords of Poverty’ in 1989.

In my commentary published on EBR last month I showed that the experiences of many countries indicate privatization does not automatically improve performance; the 1998 scandal involving the Uganda Commercial Bank is a case in point. Moreover, the World Bank’s experience of financial reform in the former Soviet Union drew the conclusion that early privatization does little to improve the quality of the banking system and may be counterproductive when institutions are weak and prudential regulation is underdeveloped. Therefore, it is by no means self- evident that Ethiopia should follow Mozambique’s example of privatizing state banks early in the transition stage.

Escalating trade tensions are taking a toll on the global economy and are partly responsible for the recent downward revisions to our growth forecasts for 2019/20.
Facing sluggish growth and below-target inflation, many advanced and emerging market economies have appropriately eased monetary policy, yet this has prompted concerns over so-called beggar-thy-neighbor policies and fears of a currency war.

Unlike the 2008 global financial crisis, which was mostly a large negative aggregate demand shock, the next recession is likely to be caused by permanent negative supply shocks from the Sino-American trade and technology war. Trying to undo the damage through never-ending monetary and fiscal stimulus will not be an option argues Nouriel Roubini (PhD), in a commentary sent to EBR from Project Syndicate.

Ever since Ethiopia liberalized the financial sector in the 1990s, the country witnessed different waves of banking formation. The first wave was 1994 to 2000. Six private banks were formed during this time. Following the enactment of the Monetary and Banking Proclamation of 1994 that allowed domestic private investments in the banking sector.

one successful country’s experience

Financial reform in Ethiopia has an interesting history. The issue has been an important agenda in the Ethiopian financial sector since the mid-1990s. It was in 1994 that the first financial liberalization measures took place and continued until 1998.

1978 was one of the defining years for China. It was the year the then leader of China, Deng Xiaoping, who took power after the death of Chairman Mao Zedong, launched the economic reform that made China the global powerhouse of today.

Learning and development (L & D) has continued to be the most mission critical and expensive human resource management function. Companies spend millions of dollars to fast track talent development. According to Deloitte insight, nearly every CEO and CHRO report that their companies are not developing skills fast enough or leaders deeply enough. In today’s highly competitive global economy and intensely competitive talent market, the C-suite clearly understands that companies that do not constantly upgrade skills and rapidly build leaders will not be able to execute their business plans. In today’s business environment, learning is an essential tool for engaging employees, attracting and retaining top talent, and developing long-term leadership for the company. However, research has shown that money spent on L & D is often wasted.

The Fourth Industrial Revolution is reshaping the world of work. While policymakers in the West are struggling to respond, the task facing African governments appears even more daunting. In navigating the challenges and opportunities of the digital age, the continent’s policymakers must be willing to adapt and experiment.