Ethiopia and Eritrea embrace peace
This week’s formal reopening of the border between Ethiopia and Eritrea cements a stunning reconciliation.
This week's formal reopening ofthe border between Ethiopia and Eritrea cements a "stunning reconciliation", says The Daily Telegraph. Relations between the former rivals have improved rapidly since April, when Abiy Ahmed, Ethiopia's new prime minister, said that his country would "fully embrace a peace deal that ended a 1998-2000 border war that killed tens ofthousands".
The reopening is the latestexample of how Ahmed "has pursued an aggressive, reformist agenda" that seeks "torewrite Ethiopia's old, authoritarian social contract and unite the country's fractured society", says Michael Woldemariam in Foreign Affairs. Seeking peace is just another step in the drive for "national reconciliation" although the move is also "driven by hard realities". Ethiopia's landlocked position means that "its economic future depends on integrating its economy with those of its neighbours".
Don't get carried away, says the Economist. Ahmed enjoys 90% approval ratings and something of a "personality cult", but "there are signs thathis honeymoon may beending" as shown by an assassination attempt in June. Recently, "federal troops clashed with local security forces in Ethiopia's Somali region, triggering tit-for-tat killings and displacing thousands", while the state's response to rising ethnic violence has been "feeble".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Even Ahmed's reformist credentials don't look entirely robust: he "never gives interviews and has yet to hold apress conference", while "non-state outlets complain that they are no longer invited to official press briefings".
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published