War in Ethiopia takes toll on Djibouti's economy

摘要

The news on Sunday of the retreat of the Tigray Defense Forces (TDF) rebel coalition in the north came as a relief to the Ministry of Economy and Finances in Djibouti. The war has ravaged the economy of this small coastal country, which handles 90% of all goods imported to Ethiopia. Over the past year, freight transiting from Djibouti to Ethiopia has fallen by around 13%. The cashflow and currency of all ports, whether for container or bulk transportation, transhipment and even oil, have been affected. This was exacerbated by the reduction of international aid to Ethiopia, which led to a decrease in demand.