WebJul 21, 2024 · In May 2024, Ethiopia’s inflation stood at an annualized rate of 37.7%. ... which enjoys priority for scarce foreign currency. Ethiopia faces a growing trade deficit with total imports increasing on average by 12.5% per year during the previous 10 years. The rise in the trade deficit has been driven by rising imports, which ballooned from $4. ... WebSep 2, 2024 · And as foreign currency shortage has been a chronic problem in Ethiopia for over half of a century, it continues to exacerbate the long lasting balance of payment …
Ethiopia restricts use of foreign currency Africanews
WebJul 9, 2024 · Ethiopia’s import is declining as banks fail to disburse foreign currency and face LC backlogs. Ethiopia’s forex reserve dropped to covering only the import bill of 1.3 … WebDec 25, 2024 · According to Ahmed the major portion, 224.5 billion birr of the budget deficit will be covered by local sources whereas the remaining 6.9 billion birr will be sourced from foreign creditors. The total domestic debt as of September 30, 2024, was 1.59 trillion birr (USD 30.2 billion), up from 1.53 trillion (USD 29.4 billion) as of June 30, 2024. mecp organization chart
Ethiopia
WebApr 18, 2024 · On April 8, 2024, the Government of Ethiopia (GOE) passed a directive allowing franco-valuta imports of essential food commodities without foreign exchange … WebJul 9, 2024 · Ethiopia’s import is declining as banks fail to disburse foreign currency and face LC backlogs. Ethiopia’s forex reserve dropped to covering only the import bill of 1.3 months, according to the National Bank of Ethiopia’s report last seen in December 2024, six months ago. Zemichael lists various reasons why Ethiopia’s import is declining. WebNov 27, 2024 · Leather industries request the government to remove the 70/20/10 forex surrender as foreign currency shortage takes a tight grip on their business. Officials from the national bank have however underlined that there will be no change soon. Leather industries through their association, the Ethiopian Leather Industries Association (ELIA) … pen based devices examples