- The African Union seems to have given up on Sudan’s territorial future as prospects for its “unity attractive” bids toward the 2011 referendum in the largest country on the continent turn gloomy. Its chief, Jean Ping, Friday disclosed that there is an increasing likelihood that the oil- rich Horn of African state may become two spate states after 2011. The African Union Commission Chairperson said that recent political developments in Sudan indicate that Southern Sudan independence seems “unavoidable”. According to him, as of now South Sudan is increasingly moving towards independence from mainland Sudan because efforts to make “unity attracti…

The latest hydropower plant in Ethiopia - Gilgel Gibe II - has seized to operate within weeks since its inauguration due to tunnel rock fall in its critical water-passage system. - Ethiopia’s energy authorities Friday confirmed that the mega power plant in the country with no dam, which was constructed at a cost of 281 million euros ($407 million), already collapsed. With an installed capacity of 420 megawatts, Gilgel Gibe II uses water from another dam constructed more than 26kms from it for an earlier commissioned power plant called Gilgel Gibe I, after it generates 180Mw in the older station. The water is then channeled through 25.8kms and 6.3m diameter concrete tunnel bowered th…

- Addis Ababa, Ethiopia – A proposal by the International Monetary Fund (IMF) to establish a huge “Green Fund” that would allow withdrawal of about US $100 billion a year is to come in a matter of weeks, an IMF press statement announced Monday. Dominique Strauss-Kahn, Managing Director of the IMF has proposed the “Green Fund” to help finance shift to low-carbon world at the World Economic Forum in Davos. In his statement at the Forum, the IMF chief also stated that the Fund is to release the proposals in a few weeks. The Fund could be created partly through issuance of IMF’s special drawing rights (SDRs), which in cumulative would go as high as US $1…

A document presented at the meeting of the Executive Council of the AU summit underway in Addis Ababa demonizes Eritrea for its 'negative roles' in the Horn of Africa. It said that country is playing a destructive role in Somalia and have strained relations with neighbouring Djibouti and regional heavyweight Ethiopia. - According to the paper by AU Peace and Security Council (PSC) Asmara was the supplier of arms and ammunition to Somali armed groups that are perpetrating deadly attacks against the African peacekeeping force in Somalia (AMISOM). The AU agreed the sanctions imposed by the United Nations Security Council on Eritrea, adopted on 23 December, and expects the list of E…

- The International Contact Group on Guinea (ICG-G) asked the African Union (AU), ECOWAS and AU partners to review sanctions imposed on Guinea. The call came following recent “positive” developments including the naming of a prime minister for transitional government charged to restore civilian rule. The ICG-G issued the statement following its 10th meeting held in Addis Ababa on the sidelines of the 14th AU Ordinary Summit. “The Group welcomes the announcement of the resumption of the bilateral cooperation with Guinea and invites the AU, ECOWAS and all the AU partners to review the sanctions imposed on Guinea in the course of the crisis, in light of the positive deve…

- The International Contact Group on Guinea (ICG-G) asked the African Union (AU), ECOWAS and AU partners to review sanctions imposed on Guinea. The call came following recent “positive” developments including the naming of a prime minister for transitional government charged to restore civilian rule. The ICG-G issued the statement following its 10th meeting held in Addis Ababa on the sidelines of the 14th AU Ordinary Summit. “The Group welcomes the announcement of the resumption of the bilateral cooperation with Guinea and invites the AU, ECOWAS and all the AU partners to review the sanctions imposed on Guinea in the course of the crisis, in light of the positive deve…

About 60 of the 90 people onboard Ethiopian Airlines plane that crashed into Mediterranean Sea are confirmed dead, according to Ethiopia's Government Communication Affairs Office (GCAO). Ethiopian government declared January 25 a national day of mourning. - In what Ethiopian aviation authorities claim to be a rare incident in the history of the Airlines, Flight ET409 with 82 passengers and 8 all-Ethiopian crew members on board crashed in Mediterranean Sea early Monday morning few minutes after it took off from Rafik Hariry International Airport in Beirut. The incident has come less than two months after the Airline was honoured with the “Airline of the Year Award” by the …

- About 60 people dead in Ethiopian crash off Beirut coast Terrorist attack suspected cause Addis Ababa, Ethiopia – About 60 of the 90 people onboard Ethiopian Airlines plane that crashed into Mediterranean Sea are confirmed dead, according to Ethiopia’s Government Communication Affairs Office (GCAO). Ethiopian government declared January 25 a national day of mourning. In what Ethiopian aviation authorities claim to be a rare incident in the history of the Airlines, Flight ET409 with 82 passengers and 8 all-Ethiopian crew members on board crashed in Mediterranean Sea early Monday morning few minutes after it took off from Rafik Hariry International Airport in B…

- Addis Ababa, Ethiopia – The trillions of dollars advanced economies spent in stimulus to rescue their growth from further crumbling seems to have borne result fast but prospects remain gloomy if the stimuli are away. This is the latest statement from Dominique Strauss-Kahn, Managing Director the International Monetary Fund (IMF), about the world which is still recovering from the international financial crisis. According to him, emerging Asia leading the way – with giants China and India in the front – world economy is recovering faster than expected but still fragile. Risks include growth of asset bubbles in the emerging economies while growth in develop…

- By Omer Redi For Jason McLure, an American journalist based in Ethiopia’s capital, and his family, the only place they could celebrate the new year was either at their own or their American friends’ homes, or few hotels in the city. Out of these places, it is as if nothing happened in the world. Every office in Ethiopia is open Friday, January 01, 2010, as every Ethiopian worker is on their job despite a holiday for most of the world, a new year. No clamor, no festivity in the families of the second most populous country in Africa, either on the eve or on the first day of the year. No dazzling lights on the streets, no fireworks in major squares, no official…

- By Omer Redi (Addis Ababa) Ethiopia’s Prime Minster, Meles Zenawi, says Africa’s voice will not be subdued in the new global climate deal expected from the December UN Climate Change Conference in Copenhagen. Meles, who, on August 31, has been approved by African leaders during their meeting in Tripoli, Libya, to head the continent’s single negotiating team – the Conference of African Heads of States and Government on Climate Change (CAHOSCC) – made such strong statements at the Special Session of the African Partnership Forum on climate change (APF) held September 3 in Addis Ababa. “Africa’s interest and position will not be muffled as has u…

The Executive Board of the IMF last week approved about $240.6 million to Ethiopia in a 14-month arrangement under its Exogenous Shocks Facility (ESF) to help the country cope with the effects of the global recession on its balance of payments. - The arrangement (115 percent of Ethiopia’s quota) was approved under the high access component of the ESF, a facility designed to provide policy support and financial assistance on concessional terms to eligible low-income countries facing temporary exogenous shocks. A disbursement of about $115.1 million will become available following the Board’s decision.More than 6 months back, IMF gave Ethiopia $50 million under the same package…

- By thejournalist (Addis Ababa) The IMF today decided to bolster its members’ reserves through an allocation of US$283 billion Special Drawing Rights (SDRs), disclosed IMF Survey Magazine: Policy published today. US$250 billion of the allocation is made today and will be followed by an additional allocation of US $33 billion on September 9. “The general SDR allocation is a key part of our response to the global crisis, demonstrating the value of a cooperative multilateral approach,” IMF External Relations Director Caroline Atkinson said. “The Fund’s low-income members will benefit significantly,” she added. About US$110 billion of the combin…