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meles:
vindicated? |
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For few years now, Prime
Minister Meles Zenawi has
been arguing that market
fundamentalism is not the
right answer to Africa’s
development. The current
global economic downturn and
the desperate rush by
western governments to bail
their respective economies
out from the crisis
vindicated the development
strategy his party has been
pursuing in Ethiopia,
according to a paper he is
believed to have authored
recently.
Tamrat G. Giorgis, Fortune
Staff Writer,
reviewed this paper.
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In his youth, Meles Zenawi
might have been an ardent
leftist like any of his
contemporaries who were
active in the years of the
student movement, and as a
rebel leader thereafter. In
his mature years, he leads a
political movement that
struggles to build
lily-white capitalism in
Ethiopia.
But he is no market
fundamentalist, who would
like to leave the health of
an economy in the hands of
market forces the way
neo-liberals would argue.
For a couple of years now,
Meles has been arguing that
neo-liberal economic policy
has reached a dead-end.
The 38-page policy paper he
recently authored shows that
the current global financial
meltdown and the subsequent
economic depression that hit
countries across the world
have vindicated him. The
paper was distributed to the
top leadership of the ruling
party during the Council
Meeting of the EPRDF held in
February 2009, sources
disclosed.
It is not the first time
Meles has argued about the
inevitable downfall of
neo-liberalism, particularly
in Africa. Back in 2006, he
presented a preliminary of
in his doctoral thesis -
titled “African Development:
Dead Ends and New
Beginnings” - at a forum
held in the United Kingdom
(UK) by the Initiative for
Policy Dialogue (IPD), a
global think-tank formed in
2000 by his Economics guru,
Joseph Stiglitz (PhD). In
this paper, he challenges
the views promoted by
neo-liberal theorists that
the state’s role in the
economy should be limited.
He strongly argues that what
Africa needs is
developmental states that
claim significant roles in
national development and the
management of an economy. |
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First Coffee Export Set for
State Grain Firm |
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The state owned Ethiopian Grain Trade Enterprise (EGTE)
is set to begin export of coffee for the first time
in its history of half a century. The first
consignment of its export is being prepared, which
managers say will be shipped out in about a week.
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City Land Authority Targets
1.3b Br from Land Transfers |
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The authority floated 165 plots of land for lease in
four districts of the city in its second round
auction on March 28, 2009, since the administration
of Kuma Demeksa assumed office. These districts are
Lideta, Arada, Nefas Silk Lafto, and Kolfe Keraneo.
The total land made ready for lease auction is over
92,853 Sqm, of which 3,490Sqm are in Lideta,
7,450Sqm in Arada, 63,659Sqm in Nefas Silk Lafto and
the balance (over 18,254Sqm) in Kolfe Keraneo
districts. The largest number of plots (84) has been
provided for auction by Nefas Silk Lafto District
followed by Kolfe Keraneo (69), while Lideta
provided the least number (five) just preceded by
Arada's seven plots. |
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Dry Port at Mojo to Start
Operations in Few Weeks |
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A Dutch maritime company based in Rotterdam, Steder
Group B.V. Liner Agency, will takeover the
management of Ethiopia's first dry port facility put
up on the outskirts of Mojo town, 73Km east of the
capital, in just a week. |
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Yared Film Offers 2.3m Br for
Ethiopian New Year Exhibition |
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Yared Film Production has pushed out more
experienced competitors from the scene for the
organization of the exhibition and bazaar for the
next Ethiopian New Year by offering a record high
bid price. |
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Federal Court Hands Chinese 15 Yrs Sentence for Customs
Fraud |
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A
federal judge at the First Instance Court sentenced
a Chinese businessman and an Ethiopian customs
officer charged with involvement in customs fraud to
a total of 15 years and 10 years jail term,
respectively. |
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No Immediate Solution to Forex
Crunch: Finance Minister |
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Ethiopia's foreign currency shortage is unlikely to
be resolved anytime soon, the Minister of Finance
and Economic Development disclosed. |
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Foreign Firms Run for
Abyssinia’s 45m Br E-Banking Installation |
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Nine foreign companies are competing for Abyssinia
Bank’s core banking solution installation project
estimated to cost 45 million Br; the project will
lead to the launch of an e-banking system by the
bank, or to Abyssinia joining other banks with the
same ambition. |
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Addis Hosts
Inter-Parliamentary Forum |
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Addis Abeba will be crowded for the next six days
from today as it hosts the 120th edition of the
Inter-Parliamentary Union (IPU) Assembly.
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Hawassa to Land Airplane
Restaurant |
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The fuselage of a 30tn Boeing aircraft, formerly
owned by British Airways, arrived mid last week in
Atote, a village in Hawassa Town of Southern
Nations, Nationalities and Peoples Regional State (SNNPRS),
sources at the regional Culture and Tourism Bureau
disclosed. |
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Justices Overturn High Court
Ruling against Shola Real Estate |
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A
letter from the Addis Abeba Administration Land
Development and Administration Authority was crucial
in swaying the three justices to reverse the ruling
on March 30, 2009. This letter says the disputed
plot was given to Shola when the city's board of
Land Development and Administration met in January
2004. |
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Dukem Battery Firm Enters Market |
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Awash Auto Batteries Plc, a 25 million Br company
established in Dukem town by two Indians, is to add
20,000 pieces of the product every single month to
the Ethiopian auto-batteries market. |
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High Tyre Prices Screech as
Scarcity Intensifies |
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Heightened by the shortage of supplies in the
market, the price of tyres, especially imported
ones, which for many months had been on the rise,
has increased by leaps and bounds in the past couple
of weeks. |
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Works Ministry Approves Sixth
Round Imports of Construction Machineries, Trucks |
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The Ministry of Works and Urban Development (MoWUD)
has approved a further import of about 379
construction machineries and trucks by more than 20
government and private establishments. |
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Local Businesses to Walk Globe
through Export Path Program |
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Meselech Habte – one of the over 70 participants in
the training session organized by VEGA-Ethiopia last
week, a USAID sponsored programme that promotes
Ethiopian businesses using the African Growth and
Opportunity Act (AGOA) - is engaged in producing
health and beauty care products. |
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Unveiling of Ethio-Dutch
Flower Firm |
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At a time when business in horticulture,
particularly flowers, is highly threatened by the
global economic downturn, Freesia Ethiopia, a joint
venture by Ethiopian and Dutch businesspeople has
joined the scene. |
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Fruit, Vegetables Prices Slide |
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As the main fasting season in Ethiopia’s Orthodox
Christian faith gets into its final weeks, the
prices of some fruits and vegetables have declined
as observed mid last week in Atkilt Tera (Vegetable
Market), Addis Abeba’s largest centre of
distribution for vegetables and fruits in Piazza.
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