Ethiopia’s Prime Minister Abiy Ahmed on Thursday named Fitsum Assefa Adela as finance minister in his new cabinet, replacing Ahmed Shide who has become speaker of the lower house of parliament.
Fitsum was formerly minister of planning and development. Abiy Ahmed also retained Gedion Timothewos as foreign minister.
Abiy further named the chief executive of state-owned Ethio Telecom, Frehiwot Tamiru, as minister for innovation and technology. Mohammed Edris was made minister of defence.
Ethiopia’s parliament on Monday reelected Abiy Ahmed as the country’s prime minister for the next five years.
Abiy was reelected after Ethiopia’s general election in June, with his ruling Prosperity Party securing 438 out of 547 seats in parliament.
He took the constitutional oath of office, formally assuming his mandate for the new governmental term.
The Horn of Africa country is reworking its external debt under the G20’s Common Framework and is gradually opening up its economy to more private investment.
Ethiopia defaulted on its sole Eurobond in 2023 and earlier this year struck a preliminary restructuring deal with private creditors.
