2merkato

Ethiopia is poised to overtake Indonesia as the world’s fourth largest coffee producer in the 2026/27 marketing year, marking a shift in the global coffee industry and reinforcing the country’s emergence as one of the fastest growing coffee exporters in the world. According to the latest U.S. Department of Agriculture (USDA) Coffee Annual report, Ethiopia’s coffee production is forecast to reach 12.1 million 60 kilogram bags in 2026/27, compared to Indonesia’s projected 11.38 million bags.

Ethiopia is planning to seek a credit rating to attract more foreign investment and to balance the decline in exports, Bloomberg reported.

The Ethiopian government will pick rating companies in the coming weeks to assess the level of risk involved with investing in the country, Finance Minister Sufian Ahmed said in an interview with Bloomberg yesterday in Addis Ababa.

When the tree planting effort concluded yesterday, officials announced Ethiopians have much surpassed the originally planned amount of planting 200 million trees: the number of trees planted in twelve hours is well over 350 million.

Ethiopia has closed its borders and allocated $153.4 million (5 billion birr) as it braces to tackle the spread of COVID-19. As of today, Ethiopia has announced 12 confirmed cases of the coronavirus pandemic.

Ethiopia has established an independent private sector advisory council, hoping to elevate the involvement of the private sector in the economy. The council has twelve members.