Ethiopia's Grand Renaissance

A Sponsored Section from the May/June 2012 Issue

Ethiopia

Good news from the Horn of Africa is a rare commodity. In recent years, however, Ethiopia seems to be harvesting a healthy crop. In 2007, Africa’s oldest independent nation had the fastest-growing, non-oil driven economy among African countries, and its GDP growth has averaged around 10 percent since then. Ethiopia’s five-year Growth and Transformation Plan (GTP) is nevertheless addressing macroeconomic challenges, with intentions to double agricultural production, further develop the industry and manufacturing sector, and diversify its export basket. New infrastructure projects are under way to bring Millennium Development Goals (MDG) within reach, reduce foreign donor aid, and ameliorate the investment climate. Ethiopia knows its strengths lie in a marathon, not a sprint, and the government’s long-term development policies reflect this. Does this progress signal the beginning of Ethiopia’s revival?

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