We expect Ethiopia’s macroeconomic conditions in 2021 will be shaped largely by developments in six key areas: covid, conflict, crops, credit, creditors, and currency. More specifically, how a number of questions surrounding these ‘six Cs’ are resolved (see below) will determine how well the overall economy fares in the year ahead. We offer our views in each of the six areas, including where we are mostly optimistic, where we are more uncertain, and where we see potentially emerging macro risks. Based on the above assessment, and a set of assumptions that we take to be a reasonable baseline, we also present our latest Quarterly Macro Review and economic forecasts—covering…