Tag Archives: National Bank of Ethiopia

Ethiopia: Shortage of hard currency cripples economy, says Governor of National Bank

ESAT News (November 8, 2017) The serious shortage in foreign currency has stagnated the economy, the Governor of the Ethiopian National Bank says, as the country’s telecom fails to pay loans and carry out its routine operation. The Governor told the Ethiopian Parliament that the low turnover in foreign currency that the country derives from export trade has dwindled, which ...

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Ethiopia devalues currency by 15%

ESAT News (October 10, 2017) Ethiopia has devalued its currency, the Birr (ETB), by 15%. The dollar will be exchanged against 26.9 Birr effective tomorrow October 11, 2017, compared to the current 23.4 Birr, according to the National Bank of Ethiopia. Speaking at a press conference in Addis Ababa, Vice Governor of NBE, Yohannes Ayalew said the move will help ...

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