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Ethiopians are complaining about the high inflation and impact of the renewed conflict in the north, as their New Year dawned on them yesterday (Sunday). Celebrations were few and in between as hard realities of life overtaken them
Ethiopians are complaining about the high inflation and impact of the renewed conflict in the north, as their New Year dawned on them yesterday (Sunday). Celebrations were few and in between as hard realities of life overtook them. Markets, especially the livestock ones, wore a bemoaning look as buyers and sellers were hardly in a cheerful mood in the second most populous country on the continent. Everything looked expensive and people realised the value of peace. If that prevailed the situation would have been different.
Fighting broke out last month between Prime Minister Abiy Ahmed’s forces and the Tigray People’s Liberation Front (TPLF). This shattered a five-month truce that had raised hopes of a peaceful resolution of the nearly two-year war. The World Bank predicted a gloomy outlook for the economy in the aftermath of the renewal of the friction in the recently released economic outlook report.
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The UN’s emergency response OCHA released earlier on September 8 described the humanitarian situation in Ethiopia as “dire”, with 20 million people nationwide in need of assistance. Climatic shocks such as prolonged drought and seasonal floods shook the country. The World Bank said that with a population of 115 million, Ethiopia has been one of the world’s fastest-growing economies over the past 15 years. But the combined impact of the pandemic and the Russia-Ukraine war shook the fragile economy. The internal war in the North added fuel to the woes of the country, where a sizable number of people live in abject poverty. The inflation in July ruled at 33.5%, affecting people’s spending.
