Ethiopia names Fitsum as new finance minister

ADDIS ABABA, Oct 8 (Reuters) - Ethiopia's Prime Minister Abiy Ahmed on Thursday named Fitsum Assefa Adela as finance minister in his new cabinet, replacing Ahmed ⁠Shide who has become speaker of the lower house of parliament.

Fitsum was formerly minister of planning and development.

The Horn of Africa country is reworking its external debt under the G20's Common Framework and is gradually opening up ⁠its economy to more private investment.

Ethiopia defaulted on its sole Eurobond in 2023 and earlier this year struck ⁠a preliminary restructuring deal with private creditors.

Abiy on Thursday named the chief executive of ⁠state-owned Ethio Telecom, Frehiwot Tamiru, as minister for innovation and ⁠technology. Mohammed Edris was made minister of defence.

Adds detail on Fitsum and economic context in paragraphs 2-4, and more appointments in paragraph 5

Reporting by Dawit Endeshaw; Writing by Elias Biryabarema; Editing by Alexander Winning

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