13 Facts About Teferra Wolde-Semait

Teferra Wolde-Semait was an Ethiopian economist who has served as Minister of Finance, and chairman of the board of the National Bank of Ethiopia from 1977 to 1982.

Teferra Wolde-Semait was born in Segele, a village located in the Kembibit district of Shewa, Ethiopia, on 11 September 1938.

Teferra Wolde-Semait's mother was Jemanesh Bedane and his father was Wolde-Semait Maremi.

Teferra Wolde-Semait was the youngest of five children, the others being Tegegn, Bekele, Tirunesh and Zenebech.

Teferra Wolde-Semait returned to the Ethiopian Ministry of Community Development and Social Affairs, where he formed and managed the planning unit.

Teferra Wolde-Semait spent the years from 1967 to 1971 preparing Ethiopia's long-term development plan as well as the annual budget for the Ministry.

Teferra Wolde-Semait then transferred to the Ministry of Finance, and, from 1972 to 1974, worked in the Embassy of Ethiopia in Washington, DC as Counselor of Economics and Finance.

Teferra Wolde-Semait became vice president from 1975 to 1976, and then from 1977 to 1982, Ethiopia's 9th Minister of Finance.

At a time when his Government was under international scrutiny, Teferra Wolde-Semait worked to maintain economic relations with Ethiopia's allies with the aim to preserve Ethiopia's economic interest without pursuing political acceptance.

Teferra Wolde-Semait was the chairman of the board of the National Bank of Ethiopia during his years as Minister of Finance, effectively making him the country's overall Monetary and Finance chief.

In 1982, Teferra Wolde-Semait resigned from his job and took his family to the United States.

Teferra Wolde-Semait was employed by the International Monetary Fund in Washington, DC and worked under several assignments until retirement in 2003 as Planning and Budget Senior Professional.

Teferra Wolde-Semait was the father of three children and the grandfather of three grandchildren.