PM Abiy Ahmed’s Puppet Economy: How BBC Newsday Fuels Global Misinformation

By LJDemissie
June 4, 2025
Introduction

Ethiopia’s economic narrative, shaped by Zemedeneh Negatu — an inactive CPA and non-economic expert — has been amplified by Ethiopian state-owned media, Ethiopian Broadcasting Corporation, Fana Media Corporation and international media like BBC Newsday, eroding public trust and exacerbating challenges for protesting doctors. In his June 2025 BBC Newsday interview, he claimed that “If you look at UNCTAD’s report, which tabulates FDI around the world, including in Africa over the last five years, Ethiopia has been among the five largest recipients of FDI” is misleading. It implies a global ranking, but the data shows Ethiopia was among the top five recipients of FDI in Africa, not globally, according to the United Nations Conference on Trade and Development (UNCTAD).

A ‘puppet economy’ is an economic system manipulated by external influences—whether through misleading narratives, political agendas, or selective data—rather than being shaped by genuine market forces or sustainable policies, as articulated by real economic experts. In Ethiopia’s case, while the economy grows alongside the population, its narrative has been exaggerated and controlled through selective messaging. By sidelining real economists, exaggerated claims—amplified by platforms like BBC Newsday and reinforced by the Ethiopian Investment Commission’s (EIC) silence—have created an inflated perception of progress that does not reflect the everyday economic realities of Ethiopian citizens. Meanwhile, protesting doctors struggling with inadequate salaries expose the stark contrast between the manufactured economic narrative and the actual lived experience.

This article, dedicated to Ethiopia’s protesting doctors, critically examines BBC Newsday’s role in spreading misinformation, the complicity of the Ethiopian Investment Commission (EIC), and the impact on public trust and healthcare protests. Specific data on FDI inflows and doctors’ protests support the arguments and highlight the consequences.

Historical Context Under PM Meles Zenawi (1995-2012)
Zemedeneh Negatu’s 2012 article, “Ethiopia: From Bankrupt To Middle-Income,” reflected the optimism of PM Meles Zenawi’s economic vision, portraying Ethiopia’s transformation as a path toward middle-income status. It emphasized infrastructure development, poverty reduction, and growth but lacked in-depth economic analysis, favoring broad claims that resonated with less-informed audiences. Published just months before Meles’s passing in August 2012, the article projected Ethiopia’s 2025 GDP at $472 billion, a figure that starkly contrasts with the actual estimate of $120.91 billion—a 290.31% overstatement.

Despite Zemedeneh’s ambitious projections, Ethiopia has failed to achieve middle-income status. Economic challenges—including inflation, unemployment, and currency devaluation—continue to hinder progress, exposing the disconnect between optimistic forecasts and reality. While highlighting foreign investment, demographic potential, and industrial expansion, his article largely overlooked these structural obstacles, which protesting doctors in Ethiopia are now confronting firsthand.

The Ethiopian Investment Commission (EIC), though primarily tasked with tracking FDI, played a passive role in allowing GDP exaggerations to go unchallenged, reinforcing a precedent of misinformation that has contributed to eroding public trust in official economic narratives.

Transition to PM Hailemariam Desalegn (2012-2018)
Under PM Hailemariam Desalegn, Zemedeneh continued to shape the economic narrative. In a 2015 CGTN America interview titled “The Heat: Ethiopia’s Economy Booms to Conquer Poverty,” he touted significant FDI and labor-intensive manufacturing successes, claiming:

“As recently as 2008, foreign direct investment was about $100 million in Ethiopia. This past year, this year that just closed, it was $1.5 billion. That means it has increased by a factor of 15.” He pointed to the Eastern Industrial Zone, and the railway to Djibouti as evidence of Ethiopia’s rise as the “next China.”

However, the claim of a fifteen-fold increase in FDI is highly exaggerated. According to World Bank data, Ethiopia’s FDI inflows were $1.2 billion in 2011, $1.5 billion in 2012, $1.8 billion in 2013, $2.1 billion in 2014, and $2.2 billion in 2015. This represents a total increase of 83% over five years—not the 1,400% increase implied by a fifteen-fold claim. While Ethiopia experienced steady growth in foreign investment, particularly in manufacturing and infrastructure, these figures show only a gradual rise, not a dramatic surge. This inflated narrative, echoed by state-owned media and left unchallenged by the Ethiopian Investment Commission (EIC), contributed to a misleading perception of economic progress that did not align with actual investment trends.

Moreover, this narrative overlooked critical issues like rising inequality and political tensions, as noted by other experts in the interview. State-owned media echoed these claims, but the EIC remained silent. Despite its mandate to provide accurate investment data, the EIC did not correct these exaggerations. This silence allowed misinformation to persist, further alienating real Ethiopian economists and ordinary Ethiopians from the economic reality. The EIC’s passivity meant that international media like BBC Newsday later amplified these falsehoods without scrutiny. The focus on feel-good statistics, ignored by the EIC, set the stage for a broader narrative of progress that did not reflect the truth, compounding the erosion of public trust.

PM Abiy Ahmed’s Era (2018-Present)
In his June 2025 BBC Newsday interview, Zemedeneh claimed:

“If you look at UNCTAD’s report, which tabulates FDI around the world, including in Africa over the last five years, Ethiopia has been among the five largest recipients of FDI.”

This statement is misleading, as it implies Ethiopia ranks among the top five globally, whereas data shows it was only among the top five recipients within Africa—not worldwide.

Between 2020 and 2024, Ethiopia ranked 3rd in Africa in 2024 ($3.263 billion), 3rd in 2023 ($3.3 billion), 3rd in 2022 ($3.7 billion), 4th in 2021 ($4.3 billion), and tied for 4th in 2020 ($2.5 billion). However, globally, Ethiopia’s FDI inflows were significantly lower and never placed in the top five. For example, in 2023, the top five global recipients were the United States ($388 billion), China ($163 billion), Singapore ($140 billion), Hong Kong ($107 billion), and Brazil ($69 billion).

Despite the Ethiopian Investment Commission (EIC) having access to this data, it remained silent, failing to correct the misinformation. This institutional failure further eroded public trust, widening the gap between economic narratives and reality—which had real consequences, including protesting doctors demanding a 100% salary increase due to inadequate funding.

Counterarguments and Refutation
While Zemedeneh may argue his statements aim to boost investor confidence, the misrepresentation of FDI rankings misleads both domestic and international audiences, as UNCTAD data clearly shows Ethiopia’s African, not global, ranking. BBC Newsday’s failure to scrutinize this claim, despite access to UNCTAD reports, undermines its journalistic integrity. The EIC’s defense of institutional priorities does not excuse its silence, as accurate data could have countered misinformation without harming investment attraction.

Pattern of Misinformation and Its Impact
Across these eras, a consistent pattern emerges: Zemedeneh, lacking economic expertise, has been enabled by Ethiopian governments, institutions, and state-owned media to falsely shape Ethiopia’s economic narrative by silencing real economists, amplified by state-owned media and international platforms like BBC Newsday.

The EIC’s silence, despite its role in tracking FDI, compounded this issue. This misinformation eroded public trust, as seen in the doctors’ protests reported on Zehabesha.com. Over 25,000 healthcare workers protested in 2025, demanding a 100% salary increase due to rising costs and a 15% real-term decrease in healthcare funding since 2020. The EIC’s failure to challenge Zemedeneh’s claims, such as his FDI exaggeration, sidelined these demands. For Ethiopia’s doctors, this narrative exacerbated their struggle for fair compensation and better working conditions. The EIC’s complicity meant that accurate data was not disseminated, allowing misinformation to dominate. BBC Newsday’s role, combined with the EIC’s silence, deepened this disconnect, risking further instability.

Consequences of Misinformation and Institutional Silence
The consequences of enabling Zemedeneh’s exaggeration and the EIC’s silence are profound. Firstly, it erodes public trust, as citizens’ experiences contradict exaggerated narratives. Zemedeneh’s BBC Newsday claim, unchecked by the EIC, misleads both domestic and international audiences. Secondly, it compromises policy accuracy. Decisions based on misinformation, such as focusing on FDI over healthcare, misallocate resources. Healthcare funding decreased by 15% in real terms since 2020, despite doctors’ protests. Thirdly, it risks governance challenges.

The cumulative effect of misinformation and institutional silence fosters public disillusionment. BBC Newsday’s failure to scrutinize Zemedeneh, coupled with the EIC’s complicity, undermines media and institutional credibility. This cycle harms Ethiopia’s most vulnerable, including its protesting doctors. The EIC’s role in tracking FDI should have included challenging misinformation, but its silence allowed Zemedeneh’s claims to stand.

Dedication to the Doctors’ Cause
This article is dedicated to Ethiopia’s protesting doctors, whose fight for justice exemplifies the need for an honest economic discourse. Their demands for fair pay and improved healthcare infrastructure are overshadowed by a narrative that prioritizes exaggerated growth. The EIC’s silence, despite its role in tracking FDI, allows this misinformation to persist. As over 25,000 doctors continue to protest, the call for transparency and accountability grows louder. BBC Newsday must be held accountable for its role, but so must Ethiopian institutions like the EIC. International support, amplifying the doctors’ voices on social media and redirecting resources, is crucial. Only through collective action can we bridge the gap between narrative and reality.

Conclusion
The historical analysis of Ethiopia’s economic narrative reveals a pattern of misinformation, shaped by non-expertise and amplified by state-owned media, international platforms like BBC Newsday, and the complicity of institutions like the EIC. This has eroded public trust and exacerbated the challenges faced by protesting doctors. Dedicated to their cause, this article calls for transparency and accountability from all stakeholders. The EIC’s silence, despite access to accurate FDI data, underscores the need for institutional reform. Only through change can Ethiopia prioritize the well-being of all citizens, especially those on the front lines of public health. The urgency of this call is evident in the doctors’ protests and the misinformation spread by Zemedeneh, unchecked by both media and institutions.

The EIC’s role is critical; its silence contributes to harming Ethiopia’s most vulnerable. BBC Newsday’s platforming of Zemedeneh demands reform. The doctors’ protests remind us of the stakes; accountability must extend to all levels to ensure economic narratives reflect reality.

The writer, LJDemissie, can be reached at [email protected] or @LDemissie on X.