Apart from working hard to register remarkable socio-economic records, Ethiopia has been undertaking a range of activities to well cement bilateral, trilateral as well as multilateral ties with a number of regional, continental and even international organizations.
The country's partnership with G7 is a case in point. The G7 is a casual bloc of industrialized democracies, the United States, Canada, France, Germany, Italy, Japan, and the United Kingdom (UK), which convenes annually to discuss issues such as global economic governance, international security, among others.
The G7 countries make up around ten per cent of the world's population and generate about 45 per cent of global gross domestic product. Hence, Ethiopia's step to reinvigorate partnership with G7 is vital.
G7 Finance Ministers keeping a determined interval convene and discuss country-specific solutions to debt service and liquidity challenges and updates on initiatives for development revolving around various sectors, help boost green infrastructure, resilient and inclusive supply chain enhancement in Africa. Ethiopia is not exceptional in this regard.
The historic and bold economic reform program Ethiopia is implementing, which is designed to address macroeconomic challenges and rebalance the sources of growth by shifting away from public towards private sector-led investment, has been bearing fruits as the country has principally focused on promoting reliable development thereby declaring economic sovereignty.
To make such a remarkable trajectory, the G7 is expected to support this rapidly growing and dedicated for change state. The reform has been rolled out to improve domestic resource mobilizations, rationalize public expenditure, and enforce fiscal discipline to ensure financial sustainability, floating exchange rate regime to correct distortions in the external balance of the economy, institutional reforms to improve productivity, generate decent jobs and accelerate economic growth.
Such a remarkable move has to be supported by either G7 or any other development partners since Ethiopia's commitment to sustainable growth and aspiration for the importance of continued international cooperation has attracted the G7 countries for further financing to the country. Hence, they need to attach due emphasis to the relentless effort of Ethiopia.
The support from G7 following a firm partnership Ethiopia has set up is of paramount importance in addressing the pressing financial challenges faced by the nation, including debt easing, enhancing green infrastructure development. This bold move would also help step up its support for country-owned reforms and investment plans, including domestic resource mobilization, which will progressively allow the nation to increase its fiscal space and support long-term development.
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The countries also encourage Ethiopia to undertake activities under the framework of the African Union and through bilateral contacts, in accordance with international law and the principles of sovereignty and territorial integrity as enshrined in the UN Charter.
Yes, the G7 countries encouraged lasting developments in the protection of human rights, protection of civilians, political dialogue to resolve tensions, reconciliation and national dialogue, transitional justice, and accountability for crimes committed. That is why their heads of state and governments most of the time discuss key global policy issues, exchange views and work together to develop constructive solutions.
The G-7 leaders are working to promote effective implementation of socio-economic programs and enhance investment coordination with partners like Ethiopia. As the G7 has focused on a range of issues such as food security, economic progress which in one way or another affect Ethiopian societies in particular, they are heartily supporting developing nations.
In a nutshell, as the fastest growing nation in Africa and which is fond of entertaining color blind diplomacy, Ethiopia needs to be supported via continuing finance provision thereby easing debt, boosting green economy initiative, reinvigorating green infrastructure which in turn helps foster reliable progress and development and dependable economic independence.
