ESAT News (August 28, 2018) Authorities in Ethiopia’s capital Addis Ababa shutdown illegal forex exchange shops and arrested 37 people who were allegedly involved in the illegal practice. Police also found 57,000 U.S. dollars, over 2,000 euros, over 4,000 British pounds and over 5 million birr, the Ethiopian currency. Authorities say more currencies could be seized when further searches would ...

By Engidu Woldie ESAT News (May 31, 2018) Ethiopia’s foreign reserve is at an all time low, only enough to cover imports for two weeks. Although not yet official, ESAT sources said the Prime Minister has made a decision to remove the Governor of the National Bank of Ethiopia, Teklewold Atnafu. According to reports reaching from Addis Ababa, the Deputy ...

ESAT News (April 17, 2018) Ethiopia’s Prime Minister says his country has faced serious foreign cur crunch and called on Diaspora Ethiopians to lift their embargo on remittances they send home to their families. Abiy Ahmed was speaking to businessmen in the capital on Monday. He said the foreign currency crisis was so serious that the country cannot bounce back ...