ETHIOPIANIST

News: DR Congo set to overtake Ethiopia as Sub-Saharan Africa’s fifth-largest economy: IMF The Democratic Republic of #Congo is poised to surpass #Ethiopia to become #sub-Saharan #Africa’s fifth-largest economy in 2026, according to the International Monetary Fund, as cited by Bloomberg. The #IMF estimates Congo’s gross domestic product will reach $123 billion this year, slightly ahead of Ethiopia’s projected $122 billion. The shift comes as Ethiopia’s currency, the birr, has depreciated by about 17% over the past year, in contrast to Congo’s strengthening currency. #South_Africa is expected to retain its position as the region’s largest economy, followed by #Nigeria, #Angola, and #Kenya. The shift is driven largely by Congo’s mining boom and a strengthening currency. The country, the world’s leading cobalt producer and a major source of copper, is attracting increased global investment amid rising demand for battery metals. In contrast, Ethiopia liberalized the birr in 2024 after decades of tight controls, contributing to its depreciation. Authorities have since intervened in the market, reportedly spending at least $1.35 billion to stabilize the currency. Read more: addisstandard.com/?p=56539