IBOV 204,302.33 ▼ 0.74% IPSA 10,999.64 ▼ 1.47% IPC MEX 64,653.33 ▼ 1.01% MERVAL 2,824,123 — 0.00% COLCAP 2,534.92 ▼ 2.09% BVL PERÚ 60,766.81 ▼ 1.71% USD/BRL5.02▲ 0.09% USD/MXN18.01▲ 0.14% USD/CLP978.61▲ 0.60% USD/COP3,235▼ 0.13% USD/PEN3.44▼ 0.26% USD/ARS1,517▼ 0.03% USD/UYU40.09▲ 2.64% USD/PYG5,835▲ 3.00% USD/BOB11.87▲ 1.87% USD/DOP60.19▼ 0.02% USD/CRC453.46▲ 2.33% USD/GTQ7.64▲ 3.39% USD/HNL26.86▲ 0.86% USD/NIO36.62▲ 0.26% USD/VES871.68▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.70▲ 2.14% EUR/BRL5.61▲ 0.19% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 204,302.33 ▼ 0.74% IPSA 10,999.64 ▼ 1.47% IPC MEX 64,653.33 ▼ 1.01% MERVAL 2,824,123 — 0.00% COLCAP 2,534.92 ▼ 2.09% BVL PERÚ 60,766.81 ▼ 1.71% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
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Thursday, October 8, 2026

Ethiopia Africa

Ethiopia Approves 22 Ministers for Abiy’s New Cabinet

By · October 8, 2026 · 7 min read
Members of Ethiopia's House of Peoples' Representatives in blue seats raise their hands during a vote
Photo: VOA / Wikimedia Commons (Public domain)

ETHIOPIA · POLITICS

Key Facts

  • —The country Ethiopia, in the Horn of Africa, faces renewed fighting in Tigray.
  • —What happened Parliament approved 22 ministers and a deputy prime minister on Thursday.
  • —The finance post Fitsum Assefa replaces Ahmed Shide, now parliament speaker, as finance minister.
  • —The numbers Women hold nine of the 22 ministries, about 41 percent.
  • —Prediction markets Polymarket gives Abiy Ahmed leaving office in 2026 a 5% chance (8 October, 4:00 a.m. ET).
  • —Still open Whether Ethiopia’s debt negotiating team changes with the new minister.

Abiy Ahmed’s second-term government is in place, with a new finance minister and familiar faces in foreign affairs.

Ethiopia’s parliament on Thursday, 8 October, approved 22 ministers and a deputy prime minister put forward by Prime Minister Abiy Ahmed. The new Ethiopia cabinet puts Fitsum Assefa in charge of finance, replacing Ahmed Shide.

The finance ministry steers Ethiopia’s debt restructuring, which a US$3.4 billion IMF programme is meant to frame. The same cabinet must also manage renewed fighting in Tigray and rising tension with neighbouring Eritrea.

Who Sits in the New Ethiopia Cabinet

The House of Peoples’ Representatives, the elected lower chamber, approved the list unanimously, Fana Media Corporation reported. The Addis Ababa broadcaster gave no vote count.

Fana’s Amharic service reported the approval and the oath in the chamber at 10:22 a.m. local time. The state broadcaster EBC also reported the swearing-in.

Temesgen Tiruneh returns as deputy prime minister, the post he held in the last government, the state Ethiopian News Agency (ENA) reported. Gedion Timothewos begins a second term as foreign minister, according to Fana.

Mohammed Idris takes the defence ministry, and Professor Birhanu Nega takes education. Hanna Araya-Selassie heads justice, Dr Mekdes Daba health, and Habtamu Itefa water and energy.

Addisu Arega leads agriculture, Yasmin Wohabrebbi trade and regional integration, and Aynalem Niguse the revenue ministry. Alemtsahay Paulos takes mining, Sadat Nesha logistics and Bereket Fissehatsion the renamed national strategy ministry.

Women hold nine of the 22 ministries, about 41 percent, including finance, justice, trade, health and revenues, Fana reported. It added that a minister from the Harari Region joins the federal cabinet for the first time.

Addis Ababa skyline with high-rise towers behind a fountain and lawns where people gather at dusk
Addis Ababa’s skyline seen from Friendship Park, also known as Sheger Park, in 2020. Photo: DaneyWiki / Wikimedia Commons (CC BY-SA 4.0)

A New Finance Minister and the IMF Programme

Fitsum Assefa, who holds a doctorate, moves to finance from the planning and development ministry. On Wednesday she presented to parliament the bill that renamed her old ministry, ENA reported.

Her predecessor, Ahmed Shide, was elected speaker of the House on Monday, 5 October, Fana and The Reporter reported. He was still serving as finance minister the week before.

On Thursday, 1 October, he and central bank governor Eyob Tekalign met Anna Bjerde, World Bank managing director of operations, Fana reported.

On Tuesday, 29 September, Ahmed said concluding debt restructuring agreements would ease fiscal and foreign exchange pressure. Fitsum told the same forum that average inflation fell from above 26 percent before the reforms to slightly above 16 percent.

The IMF approved an Extended Credit Facility of about US$3.4 billion for Ethiopia on 29 July 2024. The fund says the programme provides a framework for completing the country’s debt restructuring.

The new minister also inherits an ambitious target. President Taye Atske-Selassie told lawmakers on Tuesday, 6 October, that the government aims for 10.1 percent growth this Ethiopian fiscal year.

What Abiy Told Lawmakers

Abiy said nominees were judged first on education and their ability to deliver, then on gender, religion and ethnicity. His remarks were reported in Amharic by Fana and are translated here.

“Power is a hat,” he told lawmakers, adding that any minister who fails can be removed at any time. He said the nominees had been checked in several ways and found free of theft and corrupt practice.

An appointment, he said, means “much responsibility and toil” rather than comfort, sleep or luxury. He also cited the more than 54 million Ethiopians who voted in the 1 June general election.

Abiy said ministers must understand the government’s long-term Medemer grand strategy. Medemer, roughly “coming together” in Amharic, is the label he uses for his political project.

Parliament re-elected Abiy for a second five-year term on Monday, 5 October, The Reporter, an Addis Ababa newspaper, reported. He was sworn in the same day.

Opposition Figures and Four Renamed Ministries

The cabinet includes figures linked to other parties that contested the June election, Fana reported. Birhanu Nega is associated with Ethiopian Citizens for Social Justice (EZEMA), a national party outside the ruling Prosperity Party.

Musa Adem, the new peace minister, is associated with the Afar People’s Party, a regional party from the Afar Region. Fana did not say whether either party has formally joined the government.

On Wednesday, 7 October, lawmakers unanimously passed a law reshaping four ministries while keeping the total at 22, Fana reported. Planning and Development became National Strategy, and Transport and Logistics became Logistics.

Culture and Sports became Youth and Sports, while Tourism became Culture and Tourism. A government representative told the House the changes would make the institutions more efficient, ENA reported.

What It Means for US Readers

For investors, the finance post is the change to watch, because the minister steers the IMF programme and debt talks. Creditors will look for signs that Fitsum keeps the reform course Ahmed described last week.

The US Embassy in Addis Ababa issued a security alert on Wednesday, 7 October. It cited reports of possible long-range attacks directed at Ethiopian military installations on several occasions in October.

The embassy tells US citizens not to travel to Amhara, including Lalibela, Tigray or Afar for any reason. It asks Americans to reconsider travel to Ethiopia and to avoid military sites, though it calls Addis Ababa stable.

The Tigray fighting and the rift with Eritrea now fall to Mohammed Idris at defence and Gedion at foreign affairs. US exporters have a stake too: Ethiopian Airlines signed for 10 Boeing 777 freighters on 30 September, Fana reported.

What Prediction Markets Say

Polymarket’s contract “Abiy Ahmed out as Prime Minister of Ethiopia in 2026?” showed Yes at 5% on 8 October, 4:00 a.m. ET. About US$13,000 has been traded, so the market is thin.

The price suggests bettors see little chance of Abiy leaving office before the year ends. These are bets, not polls.

Why we show this: prediction markets turn real-money bets into a live probability that moves within minutes of the news, which is why investors, campaigns and newsrooms in the United States now follow them closely. We show them next to polls and official results, never instead of them.

What Is Not Known

No vote tally has been published beyond Fana’s report of unanimous approval. Abiy did not say how the nominees were checked for theft and corruption.

It is not yet clear whether the team handling debt talks will change along with the minister. Fana did not name the minister from the Harari Region.

Abiy’s reported remarks did not address Tigray. OCHA, the UN humanitarian office, said on 7 October that continued hostilities in northern Ethiopia are driving new displacement.

What Comes Next

The ministers now take charge of their portfolios for the five-year term. Fitsum’s first tests are the debt restructuring and the 10.1 percent growth target.

The vote does not end the conflict in the north or change the US travel warning. It completes the formal set-up of Abiy’s second-term government.

Frequently Asked Questions

Who is Ethiopia’s new finance minister?

Fitsum Assefa, until now minister of planning and development, was approved as finance minister on Thursday, 8 October. She replaces Ahmed Shide, who became speaker of the lower house on Monday, 5 October.

How many ministers are in the new Ethiopia cabinet?

Parliament approved 22 ministers plus Deputy Prime Minister Temesgen Tiruneh. Women hold nine of the 22 ministries, according to Fana Media Corporation.

Did Ethiopia’s foreign minister change?

No. Gedion Timothewos was reappointed and begins a second term as foreign minister.

Is it safe for Americans to travel to Ethiopia?

The US Embassy tells US citizens to reconsider travel to Ethiopia and not to visit Amhara, Tigray or Afar. It says Addis Ababa remains stable.

What is the Medemer government?

Medemer is the label Abiy Ahmed uses for his political project and his new government. The Amharic word means roughly coming together.

Sources: Ethiopian News Agency, cabinet list; ENA, deputy prime minister; ENA, ministry restructuring bill; Fana (Amharic), approval and oath; Fana (Amharic), Abiy on vetting; Fana (Amharic), Abiy on selection criteria; Fana (Amharic), Abiy on responsibility; Fana, cabinet approved; Fana, Gedion reappointed; Fana, four ministries; Fana, finance forum; Fana, World Bank talks; Fana, growth target; EBC (Amharic), oath; The Reporter, Abiy re-elected; Fana, Ahmed Shide elected speaker; The Reporter, House leadership; US Embassy Addis Ababa, security alert; IMF, Ethiopia questions and answers; OCHA, 7 October update (all accessed 8 October 2026).

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