Ethiopia appoints former planning minister Fitsum Assefa Adela as finance chief
Prime Minister Abiy Ahmed announced a cabinet reshuffle, naming Fitsum Assefa Adela as the new finance minister, replacing Ahmed Shide who became speaker of parliament.
In a Thursday announcement, Abiy Ahmed reshuffled his cabinet, installing Fitsum Assefa Adela—formerly minister of planning and development—as finance minister. Ahmed Shide moved to the role of speaker of the lower house. The changes also saw Ethio Telecom CEO Frehiwot Tamiru become minister for innovation and technology, and Mohammed Edris take over defence. Ethiopia continues to restructure its external debt under the G20 Common Framework after defaulting on a Eurobond in 2023.
Why it matters
The new finance minister will steer Ethiopia's debt restructuring and economic reforms amid ongoing fiscal challenges.
How this story developed
- Sep 23 Tigrayan forces capture Mekelle airport, prompting Ethiopian Airlines to halt regional flights
- Sep 23 Ethiopian Airlines posted a flight suspension following the reported airport seizure.
- Oct 2 A seven-group coalition headed by the TPLF has clashed with Ethiopia’s army in the north, while neighboring states and Gulf powers are accused of backing opposite sides.
- Oct 3 TPLF forces are withdrawing from Mekelle as federal troops advance toward the capital.
- Oct 4 A new coalition of seven anti‑government militias under the TPLF has been formed.
- Oct 5 Federal troops and pro‑government militias entered Mekelle following the TPLF’s announced withdrawal.
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