State Minister Calls for Rigor and Responsibility in Economic Discourse at Ethiopian Economics Association (EEA) Conference
In his keynote address, Dr. Eyob praised the EEA for its consistent contribution to policy-relevant research over more than two decades, highlighting the Association's role as a vital platform for evidence-based economic dialogue.
In his opening speech the state minister conveyed a strong message on the importance of professionalism, analytical rigor, and responsible communication in shaping the nation's economic future.
The State Minister also outlined the progress Ethiopia has made under its ongoing macroeconomic reform program, noting significant gains in inflation control, export performance, debt sustainability, and tax revenue mobilization.
Beyond the macroeconomic achievements, Dr. Eyob shed light on a growing challenge in the public policy space: the need for clarity, integrity, and responsibility in economic analysis and communication.
'In recent months, we have witnessed how unclear communication or imprecise use of statistics, particularly around sensitive issues such as debt sustainability, can sow confusion and erode public confidence,' Dr. Eyob remarked. 'In today's fast-moving information environment, rigor and clarity are not optional—they are essential.'
He emphasized the EEA's unique responsibility as a trusted and independent economic institution to uphold the highest standards of analysis and avoid sensationalism or politicized interpretations.
Dr. Eyob underscored the Ministry of Finance's readiness to deepen collaboration with the EEA and other institutions that share a commitment to informed, evidence-based policymaking.
The annual international Conference on the Ethiopian Economy brings together leading economists, academics, policymakers, and practitioners to deliberate on key economic developments and policy directions.
Distributed by APO Group on behalf of Ministry of Finance, Ethiopia.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
9 hours ago
- Zawya
Doha agreement brings Democratic Republic (DR) Congo government and M23 rebels a step closer to peace
An agreement signed by the Democratic Republic of the Congo (DRC) government and the Congo River Alliance/March 23 Movement (AFC/M23) has been hailed by the UN peacekeeping mission in the country (MONUSCO) as 'an important step toward sustainable peace. In a statement released on 19 July, MONUSCO said that the Declaration of Principles, signed in Doha under the mediation of Qatar, 'reflects the parties' resolve to prioritize peaceful means, establish a ceasefire, and set up a joint mechanism to define its practical implementation.' 'This important declaration marks a shift toward easing tensions and protecting civilians seriously affected by the conflict,' declared Mr. Bruno Lemarquis, Deputy Special Representative of the UN Secretary-General in the DRC and Acting Head of MONUSCO. 'We commend the commitments made and call for their timely and good faith implementation.' Those commitments include measures to facilitate the voluntary, safe, and dignified return of internally displaced persons and refugees to their places or countries of origin, and the encouragement of inclusive dialogue, seen as vital to addressing the root causes of the conflict and achieving lasting peace. Earlier this year, the M23 launched an offensive in North and South Kivu provinces, capturing cities and villages, including provincial capitals Goma and Bukavu. Thousands of civilians were killed, hundreds of thousands more were displaced, and serious human rights violations were committed. The Declaration of Principles comes less than a month after a peace agreement signed by Congo and Rwanda, long accused by the Congolese government of supporting the M23. The Mission's statement highlighted the Declaration's emphasis on civilian protection and support for the ceasefire, with assistance from MONUSCO and other partners, and reaffirmed its readiness to support the cessation of hostilities, particularly through the establishment of a credible and jointly agreed verification mechanism. MONUSCO's statement concluded by urging all parties to honour their commitments, act in good faith throughout the process, and prioritise human rights, security, and the aspirations of the Congolese people in all decisions. Distributed by APO Group on behalf of UN News.
The National
9 hours ago
- The National
Jerome Powell is 'torturing America' with interest rates, says US Commerce Secretary Howard Lutnick
The Trump Administration is showing no sign that it will lessen its criticism of Federal Reserve chairman Jerome Powell, with Commerce Secretary Howard Lutnick saying that the Fed chairman was torturing the US. On CBS Face the Nation, Mr Lutnick echoed US President Donald Trump's sharp tone when talking about the Federal Reserve chairman, saying that he was doing the 'worst job', among other things. 'I don't know why he's torturing America this way,' he said, referring to Mr Powell's decision to not cut interest rates. CBS anchor Margaret Brennan pointed out to Mr Lutnick that Mr Powell does not unilaterally set the interest rates, but rather, a committee consisting of federal governors and the heads of central bank offices throughout the US. Later in the show, Democratic Congressman Jim Himes condemned Mr Lutnick for his choice of words. 'He said, 'Jay Powell is torturing the American people',' lamented Mr Himes, saying that Mr Lutnick was putting Mr Powell's physical safety at risk. 'What you just saw was a masterclass by a huckster and a con man who uses words like torture that are very, very dangerous words,' he continued. Mr Lutnick's decision to use words like 'torture' when referring to the US Federal Reserve chairman are the latest in a series of condemnations of Mr Powell from the Trump White House. It also comes after Mr Trump's own comments on Tuesday, when he denied reports that he intends to fire Mr Powell, a move that is largely unprecedented and would likely rock the markets. 'I talked about the concept of firing him. I said, 'what do you think?' Almost every one of them said I should, but I'm more conservative,' he said before a meeting with Bahrain's Crown Prince Salman bin Hamad Al Khalifa. When asked if he would rule out the idea, Mr Trump said: 'I don't rule out anything but I think it's highly unlikely unless he has to leave for fraud.' That same day, Mr Trump continued to insist the Fed's current target rate of 4.25 per cent to 4.50 per cent should be three points lower. During his appearance on Face The Nation, Mr Lutnick said he was angry that the US 'had the same interest rates as Gabon,' and echoed Mr Trump's call for lower rates. 'Whether [President Trump] decides to let Jerome Powell stay on the job or not, I'll leave that to Donald Trump,' Mr Lutnick explained, while addressing speculation that Mr Trump might fire Mr Powell. Under the Federal Reserve Act, a president can remove a Federal Reserve official only 'for cause'. This means the White House must show a Fed official or its chairperson had committed an act of malfeasance or neglect of duty. A recent Supreme Court ruling upheld the notion that legal reasoning the White House has been used to fire officials at other independent federal agencies does not apply to the Fed. But the White House in recent weeks has launched a new phase of attack on the Federal Reserve, accusing Mr Powell of mismanaging the central bank given the ballooning renovation costs of its headquarters. Asked if Mr Powell should be investigated, Mr Trump said: 'Well, I think he's already under investigation. He spent far more money than he was supposed to rebuilding.' Mr Powell's term as Fed chairman expires next May. Reports in recent days had suggested that Mr Powell had managed to convince Mr Trump to lessen his threats to remove the Fed chairman before his term expires. While addressing those reports on Sunday, Mr Lutnick instead boasted of what described as Mr Trump's transparency. 'When he thinks something he says it,' Mr Lutnick added.
The National
11 hours ago
- The National
El Sisi meets Centcom chief in Cairo and reaffirms strong US-Egypt ties
US Central Command (Centcom) chief Gen Michael Kurilla met Egyptian President Abdel Fattah El Sisi in Cairo on Sunday, with both reaffirming the strategic partnership between their countries despite recent strained relations. A statement from the Egyptian presidency underscored the 'strategic depth' of US-Egyptian relations and highlighted that President Donald Trump's attitude towards Cairo was well-intentioned. Discussions focused on strengthening bilateral military and security co-operation, and addressing regional challenges, including efforts to achieve a ceasefire in Gaza and to allow sustained humanitarian aid to the enclave, the presidency said. The meeting, attended by Egypt's Defence Minister Abdel Meguid Saqr and US ambassador Herro Mustafa, also touched on broader regional issues, with Mr El Sisi discussing Egypt's water security and developments in the Horn of Africa. The high-level visit comes after months of uncertainty over US-Egypt relations, exacerbated by disagreements over Israel's war on Gaza. Mr Trump's controversial demand for Egypt to resettle Palestinians from Gaza in its Sinai Peninsula was met with a firm rejection from Cairo, which called the proposal a threat to national security and the Palestinian cause. The US President then ruffled feathers again in April with a demand that American vessels should transit the Suez Canal free of charge. Pro-government Egyptian media dismissed the idea as 'preposterous' and it fuelled speculation over Cairo's growing frustration with Washington's policies. At the same time, Egypt has deepened its ties with other global powers, particularly China, with which it conducted a joint military exhibition at the Giza pyramids in April and May. Cairo also purchased a number of Chinese military hardware. Chinese Prime Minister Li Qiang visited Cairo this month to expand economic and military co-operation, including infrastructure investment and joint military drills. He met government officials, including Mr El Sisi, and business leaders. Egypt's involvement in the Brics bloc and growing reliance on Chinese and Russian arms have signalled a broader shift in its foreign policy. Despite the apparent political discord, US-Egypt economic ties remain significant. In May, the US-Egypt Policy Leaders' Forum highlighted Cairo's efforts to attract American investment, including a proposed US industrial zone in the Suez Canal Economic Zone. US companies have invested more than $47 billion in Egypt in the past 20 years and the two sides continue to prioritise trade and investment, even as political tension persists. Gen Kurilla's visit may also indicate Washington's intent to preserve its $1.3 billion annual military aid package to Egypt, a cornerstone of their relationship since the 1970s. Following the perceived row, questions were raised over the continuation of the military aid package, especially in light of larger funding cuts introduced by Mr Trump's administration since he came to power again in January. His predecessor Joe Biden had halted 10 per cent of the annual aid package to Cairo over Egypt's failure to comply with human rights standards set by the aid agreement. The aid was restored the following year.
