Does Ethiopia face a Western backlash as a result of joining BRICS? – The Africa Report 

POLITICS VS FDI

By David Whitehouse

Posted on February 2, 2024 05:00

Ethiopian Prime Minister Abiy Ahmed attends a meeting during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg on August 24, 2023. Marco Longari/REUTERS
Ethiopian Prime Minister Abiy Ahmed attends a meeting during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg on August 24, 2023. Marco Longari/REUTERS

BRICS membership is more about political messaging than strategic economic thinking.

Recent research from the Ethiopian Economics Association highlights fears of a Western backlash against the country’s BRICS membership.

The survey of 233 Ethiopian economists finds a majority saying the country will face adverse measures from Western powers, including refusal of new loans and grants, pressure for currency devaluation and less chance of foreign direct investment (FDI).