Ethiopia Lifts Foreign Currency Restrictions on Goods, Keeps Vehicle Limits”

Date:

Share post:

The Ministry of Finance has announced that the foreign exchange restriction on certain items has been repealed, except for fully equipped domestic automobiles and three-wheeled vehicles classified under Article 87.03 of the Tariff Book, which remain restricted.

It is recalled that the government imposed a ban on the use of bank foreign exchange for certain items, initially established by decision No 1/7/252 dated February 11, 2023, and amended by No./Po/29/16 dated July 5, 2024.

The Ministry of Finance has confirmed that as of July 28, 2024, the ban on fully equipped domestic automobiles and three-wheeled vehicles classified under Article 87.03 of the Tariff Book, as well as the restriction on foreign exchange for the rest of the items, has been lifted.

Addis Insight
Addis Insighthttps://addisinsight.net/
Addis Insight is Ethiopia’s fastest growing digital news platform, providing consumers with the latest news from Ethiopia and its diaspora. We provide marketers with innovative opportunities to leverage our stories and overall brand with a fiercely curious and highly engaged audience.
spot_img

Related articles

French President Macron Arrives in Ethiopia

French President Emmanuel Macron has arrived in Addis Ababa, Ethiopia, moments ago on an official working visit. Upon his...

World Bank Approves $700 Million Boost for Ethiopia’s Financial Sector

WASHINGTON, December 19, 2024 – Ethiopia’s financial system is set to receive a transformative boost following the World...

Amhara Bank Urges Local Banks to Merge Amid Foreign Banks’ Entry

On December 18, 2024, Ethiopia's parliament ratified a landmark banking proclamation allowing foreign banks to operate within the...

National Bank of Ethiopia Launches Platform for Customer Complaints

Addis Ababa, Ethiopia The National Bank of Ethiopia (NBE) has introduced an online platform and a dedicated hotline (7230)...