MacroeconomicResearch


Quarterly Macro Review

We expect GDP growth this year to be slightly lower, and inflation slightly higher, than we had previously projected but keep our forecasts for exchange rates, fx reserves, and public debt largely unchanged from those in our 2019…

Ethiopia Fiscal Review

We put together a data pack on Ethiopia’s recent fiscal performance, focusing on revenue performance over the past few years (including so far this year) and also taking a detailed look at the composition of government spending for the current budget…

Ethiopia’s Billion-Dollar Sovereign Bond: Recent Performance and Outlook

Ethiopia’s $1bn sovereign bond issued in December 2014 is the country’s sole debt instrument trading in global capital markets. We review its recent performance (prices and yields) and consider the outlook for this and other potential bond issues in the…

Ethiopia – Macroeconomic Handbook 2019

We put together ten questions often raised by investors during discussions of the Ethiopian macroeconomy and venture to provide some answers that reflect our views and thinking on these issues. We also provide an Appendix with 10 years of macroeconomic data…

SectorResearch


Ethiopia’s Banking Sector

We take a deep-dive into Ethiopia’s banking sector and cover—across the following 70 pages—its macroeconomic contribution, recent performance, service offerings, regulatory environment, income sources, market structure, profitability rankings, bank-by-bank…

A Financing Map of Ethiopia: The funding landscape for future growth

We review the scale and scope of the financing universe in Ethiopia, focusing on its size and composition; funding sources and users; domestic versus foreign components; and finally the most promising untapped and under-exploited opportunities for the years…

Ethiopia Trade Review

Recent trade performance shows that America is now the largest market for Ethiopian exports, taking in 9 percent of total exports. For imports, China remains the largest source, as has been the case for the past 16 years. Please read full report. Read the…

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