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IBM helped to introduced technology to Ethiopia in 1962 with the 1421/814 accounting machine. [3] In 1963, IBM introduced a semi-mechanical accounting machine at the Economic Commission for Africa (ECA), followed by the auto code 1440 model, commissioned by the Ethiopian Electric Light and Power Authority. The IBM 360/20 electronic data ...
The Ethiopian economy has a large foreign debt, with an overall external debt of 28 billion US dollars. China owns over 13 billion dollars of its debt. Its debt to GDP ratio is smaller than similar and neighboring countries. Ethiopia currently has 2.4 billion dollars of foreign reserves, representing a decline compared to previous years. [38]
Another effect of the gross disparity in digital access is the economic impact on Ethiopia's economy. Ethiopia is currently one of 19 remaining countries on earth without a true stock exchange. Without access to capital and investments, Ethiopia's economy is growing at a snail pace of 5.4% in 2017.
The Ethiopian Railway Corporation reached a funding agreement worth millions of dollars with the Export and Import Bank of China in September 2010 and the light rail project was completed in January 2015. The route is a 34.25-kilometre (21.28 mi) network with two lines; the operational line running from the centre to the south of the city.
The birr was reintroduced on 23 July 1945 at a rate of 1 birr per 2 shillings. It was pegged to the U.S. dollar at a central rate of 1 birr = US$0.4025, or 2.48447 birr = US$1. On 31 December 1963, this was slightly changed to 2.50 birr = US$1. The name Ethiopian dollar was used in the English text on the
Between 1960 and 1970, Ethiopia enjoyed an annual 4.4% growth rate in per capita production and gross domestic product (GDP). The manufacturing sector more than doubled from 1.9% in 1960–1961 to 4.4% in 1973–1974, and the growth rate for the wholesale, retail trade, transportation, and communication sectors increased from 9.5% to 15.6%. [19 ...