Emeritus Prof. Al Mariam Says Ethiopia Marching Fast toward Promised Land of Prosperity

Addis Ababa, May 31, 2026 — Ethiopia is moving rapidly out of poverty toward the promised land of prosperity, according to Emeritus Professor Al Mariam.

Emeritus Professor Alemayehu G. Mariam, widely known as Al Mariam, wrote: “There is no question Ethiopia is now marching fast out of the land of poverty into the promised land of prosperity."

Citing the continued backing from international institutions, he said global partners are supporting Ethiopia’s homegrown economic reforms.

The World Bank is assisting reforms aimed at transitioning Ethiopia to an inclusive, private-sector-led economy, while the IMF is providing financing linked to debt restructuring and market liberalization.

The European Union also restored confidence in Ethiopia’s reform program, pointing to the resumption of direct budget support in April 2026 after a five-year suspension.

Al Mariam further highlighted recent diplomatic economic engagement, including the signing of a “Bilateral Structured Dialogue (BSD) Framework” between Ethiopia and the United States.

The framework is set to guide cooperation in three areas: economic prosperity and trade/investment, defense and security, and regional peace and stability, he added.

He noted that Ethiopia’s Homegrown Economic Reform program, launched in 2019, has driven a shift from a largely state-led model toward a market-oriented and private-sector-led economy.

The reform has included floating the birr, easing foreign exchange controls, and opening sectors such as banking, telecommunications, and real estate to foreign competition.

On economic performance, export revenues have risen from under 3 billion USD to about 10 billion USD, supported by a reported 10.2 percent expansion in industrial production capacity.

Ethiopia has generated nearly 15 billion USD in import-substitute goods over four years and pointed to strengthened performance in agriculture, mining, and manufacturing, with gold exports rising sharply to account for 42 percent of export revenue.

In his article, the Emeritus Professor further noted that the completion of the Grand Ethiopian Renaissance Dam (GERD) and additional major hydropower projects—along with other energy sources including solar, wind, thermal, and nuclear, are potentials to expand export earnings.

He projected an estimate of about 1 billion USD annually from electricity exports once key facilities come online.

Aviation and infrastructure ambitions are advancing, Al Mariam wrote, referencing reported earnings of nearly 8 billion USD in 2025 for Ethiopian Airlines, and ongoing work on the largest airport in Africa.

Urban and security improvements in Addis Ababa, where major transformation efforts including the Corridor Development Project and Riverside Initiative, have resulted in wider roads, dedicated bus lanes, pedestrian and cycling routes, and new public amenities, he stated.

Police adoption of advanced technology is contributing to safer streets and improved crime prevention.

The Emeritus Professor finally emphasized the need for unity and national teamwork, stressing that Ethiopia’s progress depends on shared effort and integrity, and that prosperity will be achieved through collective action and fraternity.