Ethiopia Raises Concerns at the UN Regarding Eritrean Actions
Russia's Central Bank Includes Ethiopian Birr in Exchange Rate List
Ethiopia Raises Concerns at the UN Regarding Eritrean Actions
Ethiopia raised concerns at the UN Human Rights Council on July 4, 2025, about Eritrea's actions, which it described as having created an extraordinary situation, compelling Ethiopia to adopt an exceptional position. Ethiopia’s envoy to the UN, Tsega'ab Kebebew, highlighted reports of gross human rights violations by Eritrean troops in Tigray's border areas, urging robust international attention. Eritrea has denied the accusations, and the situation continues to escalate, increasing tensions between the two countries.
Ethiopia Omitted from World Bank's Global Income Classification
Ethiopia was omitted from the World Bank's latest global income classification for the period from July 2025 to June 2026, with its income marked as "unclassified." This is due to the bank being unable to collect accurate and updated data about Ethiopia's gross national income per capita. The classification change places Ethiopia alongside Venezuela. The Ministry of Finance has not yet issued a response regarding the omission, and the classification could be updated based on future data availability.
Mesebo Cement Factory Halts Operations Due to Limestone Shortage
Mesebo Cement Factory, a key entity under the Endowment Fund for the Rehabilitation of Tigray (EFFORT), has suspended its operations due to a shortage of limestone. Disputes with the local community and the Enderta district administration in Southern Tigray have hindered the factory's access to raw materials. Additionally, internal board conflicts have further impacted operations. The price of cement in Tigray has risen sharply, from 900 birr to 1,400 birr. Negotiations are ongoing to address the grievances raised by local stakeholders.
Russia's Central Bank Includes Ethiopian Birr in Exchange Rate List
Starting July 10, Russia’s central bank will publish exchange rates for 12 additional currencies, including the Ethiopian birr, as part of its strategy to strengthen financial ties with non-Western economies. The move reflects Russia’s efforts to diversify its foreign trade flows and international settlements. Along with the birr, Nigeria’s naira and Algeria’s dinar will also be included in the new daily ruble exchange rates.
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