Economics Ethiopia Isu

CIA4U: Analyzing Current Economic Issues – ISU

Ethiopia’s economy has a population of 90,873,739 people, making it the second most populated country in Africa. This large overpopulation is one of the contributing problems as to why Ethiopia has been oppressed into such extreme poverty with widespread disease and famine. In addition, Ethiopia suffers from political and economic instability caused by a corrupt government and poor economic decision-making, leaving the country with a low per capita income of only $1000 US dollars and severe paralyzing debt of $4.289 billion. Ethiopia’s economy can best benefit from a stable democratic political system, free of corruption. However, political reform alone will not be the only influence that will develop long lasting economic improvements, foreign assistance and fair international relations will be required to pull Ethiopia out from the cycles of poverty. Ultimately, political and economic stability will not only increase investor confidence and improve GDP; it will encourage smart economic decision-making that will rejuvenate the economy by improving social services, standards of living, and basic human rights.
Currently, Ethiopia’s government is still considered a federal democratic republic, led by Prime Minister Meles Zenawi. This form of government has limited democratic freedom since Ethiopia’s head of state, President Girma Woldegiorgis, is strictly bound by the dictates of the federal charter. It has been speculated that many republican’s posses similar characteristics of that of a monarch, many in-power for long durations of their life. In Ethiopia’s case, these republicans have been abusing their power for generations causing wars, corruption, money laundering, and inducing citizens to be fearful and alienated. These serious allocations have applied pressure to the state and federal government to initiate a much-needed reform towards a stable multi-party democratic system. In order to help Ethiopia’s... [continues]

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