Key facts
- Fitsum Assefa Adela has been appointed Ethiopia's new finance minister.
- Ahmed Shide, the previous finance minister, is now the speaker of the lower house of parliament.
- Adela previously served as the minister of planning and development.
- Ethiopia is currently restructuring its external debt under the G20's Common Framework.
- The country is also working to increase private investment.
- Ethiopia defaulted on its sole Eurobond in 2023 and reached a preliminary restructuring deal with private creditors this year.
Ethiopian Prime Minister Abiy Ahmed has appointed Fitsum Assefa Adela as the country's new finance minister, replacing Ahmed Shide who has moved to become speaker of the lower house of parliament. Adela previously held the position of minister of planning and development.