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U.S. hits Ethiopia with sanctions against the Tigray War

  • The United States has imposed “widespread” economic sanctions on Ethiopia.

  • This is an effort to end the violence in Tigray in African countries, killing thousands and expelling hundreds of thousands more.

  • US sanctions primarily affect funding to support Ethiopia’s budget, including a request by the World Bank and the International Monetary Fund to withhold funding.


The United States has imposed “widespread” economic sanctions on Ethiopia, urging African countries led by Nobel laureates to end the violence in Tigray, which killed thousands and expelled hundreds of thousands. ..

US Secretary of State Antony Blinken said in a statement that visas from Ethiopia and its neighbor Eritrea (also involved in violence in Tigray) to government and military officials would be restricted. This action recedes the relationship between the two long-standing allies in the fight against Islamic extremists in the Horn of Africa.

U.S. sanctions primarily affect funding to support Ethiopia’s budget, including a request by the World Bank and the International Monetary Fund to withhold funding, people familiar with the matter said Saturday. It was. Ethiopia, led by Prime Minister Abiy Ahmed, receives the largest US foreign aid in Africa, receiving about $ 1 billion last year.

“We are deeply concerned about the ongoing crisis in the Tigray region of Ethiopia,” Blinken said in a statement. “Despite significant diplomatic involvement, the parties to the Tigray conflict have not taken any meaningful steps to end hostilities or pursue a peaceful solution to the political crisis.”

Violence swallowed Tigray in November when Abby ordered an invasion after troops loyal to the state’s dissident ruling party attacked federal camps in the area. The descent into violence followed months of tension between federal and local authorities.

Premium investors demanded to hold Ethiopian dollar bonds instead of US Treasuries on Monday, rising 28 basis points to 806, the highest of any African sovereign excluding Mozambique and Zambia. The average risk premium in emerging markets has shrunk.

The penalties are for the treatment of Abby’s war in Tigray and the involvement of troops from neighboring Eritrea. Earlier this month, Blinken expressed concern about the increasing obstacles to humanitarian aid in Tigray and criticized that both Ethiopian and Eritrean authorities did not respect their pledge to withdraw their troops.

Abby won the Nobel Peace Prize two years ago for ending a protracted conflict with neighboring Eritrea.

US action follows the European Union’s March decision to impose sanctions on Eritrea’s National Security Agency for alleged human rights abuses. A further list of more targeted sanctions aimed at Ethiopia is also being considered in Brussels, two diplomats with knowledge of the matter said.

Ethiopia signed a $ 907 million funding agreement with the World Bank last month. In February, the government and the IMF reached a staff-level agreement on the first and second reviews of extended lines of credit.

The IMF’s board is waiting for the “guarantee of financing for debt processing from creditors” required before the review is submitted to the fund’s board for approval, IMF officials said. Said in the email answer to the question.

The World Bank reiterated its statement released in March on Monday, saying, “We have no authority to engage in internal governance issues in member states, but human rights principles are ours. Environmental and social framework.. “

-With the support of Robert Brand



U.S. hits Ethiopia with sanctions against the Tigray War

Source link U.S. hits Ethiopia with sanctions against the Tigray War

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