Ethiopia

The Chairperson of the African Union Commission, Moussa Faki Mahamat, is deeply concerned at the deteriorating security and political situation in Mogadishu, which puts at risk all the gains made in Somalia in the last decade.

The Chairperson condemns all forms of violence and calls on Somali stakeholders to refrain from acts that might jeopardize peace and security in the country, and to work together to find consensual solution that will break the current political stalemate.

The African Peer Review Mechanism (APRM), a specialized entity of the African Union (AU), had a mandate to supports African countries in the area of credit rating agencies. As part of this mandate, the APRM undertakes routine reviews of rating outcomes assigned by international credit ratings agencies on African countries. The APRM has noted the downgrade of the Republic of Ethiopia’s long-term foreign currency sovereign credit rating by Fitch on the 09th of February 2021, 2-notches from B to CCC.

The Assembly of Heads of State and Government of the African Union has re-elected Moussa Faki Mahamat from the Republic of Chad, as the African Union Commission Chairperson for another four year term from 2021-2024. The election took place on 6 February 2021 during the ongoing 34^thOrdinary Session of the Assembly which is being held virtually due to the containment measures instituted as a result of the ongoing Covid-19 pandemic.