AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

Floods caused by El Nino could displace more than 100,000 people in Ethiopia, where more than 8 million people are facing a food crisis because of the worst drought since a devastating 1984 famine, the United Nations said on November 23. Failed rains during both the spring and summer have created food and water shortages in the Horn of Africa nation. The government and aid agencies say Ethiopia needs $600 million to cope with the crisis.
Ethiopia, brought to its knees by famine in 1984 which killed hundreds of thousands of people, now boasts one of the world's fastest growing economies and is far better able to cope with a new crisis, experts say. The government says agriculture has a smaller role and double-digit growth forecasts will not be knocked off track this time.
"El Nino has a dual impact on Ethiopia causing drought in the north, central and eastern parts of the country, and flooding in south and south eastern areas," the Office for the Co-ordination of Humanitarian Affairs (UNOCHA) said in a report.
"At least 210,600 people are expected to be affected by flooding and at least 105,300 people risk displacement," it said. The El Nino weather pattern, marked by warming sea-surface temperatures in the Pacific Ocean, causes extremes such as scorching weather in some regions of the globe and heavy rains and flooding in others. Meteorologists expect El Nino to peak between October and January and to be one of the strongest on record.
Aid agencies say the number of people needing support in Ethiopia could rise to 15 million by early 2016, with 350,000 children expected to require treatment for acute malnutrition by the end of 2015.
More than 600,000 tons of wheat purchased by the Ethiopian government is expected to arrive in neighbouring Djibouti this week, the United Nations said. Addis Ababa has so far allocated more than 6 million birr ($287,480) to tackle the effects, it added.
Abraham Tekeste, deputy head of the National Planning Commission, told Reuters that Ethiopia's economy was on course to meet growth forecasts of 10 percent in the 2015/16.
However, consultancy group Teneo Intelligence said in a note growth projections of 10 percent in 2015/16 could be revised down if there is a sustained drought.

Copyright Reuters, 2015

Comments

Comments are closed.