A country that is in the process of ripping up its economic model and has been forced to go cap in hand to the IMF might be expected to be one mired in recession.
Yet Ethiopia, which is undergoing a sharp reversal in strategy under Nobel Peace Prize-winning prime minister Abiy Ahmed, has been the world’s fastest-growing economy over the past decade, both in overall and per capita terms.
Since 2009, Ethiopia’s gross domestic product has jumped 146.7 per cent, according to data collated by the IMF, while in per capita purchasing power parity terms it has risen 149 per cent, enough to put it top of both lists as the decade draws to a close*.
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