Ludwig von Mises Institute

Ethiopia

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Country summary

Capital

Addis Ababa

Borders

Djibouti 349 km, Eritrea 912 km, Kenya 861 km, Somalia 1,600 km, Sudan 1,606 km

Government type

federal republic

Population

85,237,338[1]

Population growth

3.208% (2010 est.)[1]

Life expectancy

55.41 years[1]

Unemployment

NA%[1]

Index of Economic Freedom

136[2]

Corruption Perceptions Index

120[3]

Doing Business ranking

107[4]


Unique among African countries, the ancient Ethiopian monarchy maintained its freedom from colonial rule with the exception of a short-lived Italian occupation within the capital city area from 1936-41. In 1974, a military junta, the Derg, deposed Emperor Haile SELASSIE (who had ruled since 1930) and established a socialist state. Torn by bloody coups, uprisings, wide-scale drought, and massive refugee problems, the regime was finally toppled in 1991 by a coalition of rebel forces, the Ethiopian People's Revolutionary Democratic Front (EPRDF). A constitution was adopted in 1994, and Ethiopia's first multiparty elections were held in 1995. A border war with Eritrea late in the 1990s ended with a peace treaty in December 2000. In November 2007, the Eritrea-Ethiopia Border Commission remotely demarcated the border by geographical coordinates, but final demarcation of the boundary on the ground is currently on hold because of Ethiopian objections to an international commission's finding requiring it to surrender territory considered sensitive to Ethiopia.[1]

Economical characteristics[edit]

  • Currency: Birr (ISO code: ETB)
  • Central bank discount rate: NA%[1]
  • Commercial banks lending rate: 8% (31 December 2008)[1]
  • Stock of money (M1): $4.93 billion (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $3.603 billion (31 December 2008)[1]

Notable events:[edit]

Statistics[edit]

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[6] 7 827 8 180 8 169 7 790 8 556 10 052 12 305 15 166 19 165 25 585
Govt. debt (% of GDP)[7]
Govt. revenue (% of GDP)[8] 14.286
Govt. expenses (% of GDP)[9] 20.669
Debt to revenue (years)

References[edit]

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Factbook. "Ethiopia", from The World Factbook. Referenced 2010-10-01.
  2. ↑ Heritage Foundation. "Ethiopia", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-01.
  3. ↑ Transparency International. "Ethiopia", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-10-01.
  4. ↑ Doing Business. "Ethiopia", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-01.
  5. ↑ Carmen M. Reinhart and Kenneth S. Rogoff. "This Time is Different", Princeton University Press, ISBN 978-0-691-14216-6, p. 362. (The list does not claim to be complete.) Referenced 2011-07-19.
  6. ↑ World Bank. "Ethiopia: GDP", from World Bank Data. Referenced 2010-10-01.
  7. ↑ World Bank. "Ethiopia: government debt", from World Bank Data. Referenced 2010-10-01.
  8. ↑ World Bank. "Ethiopia: government revenue", from World Bank Data. Referenced 2010-10-01.
  9. ↑ World Bank. "Ethiopia: government expenses", from World Bank Data. Referenced 2010-10-01.

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