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Prime Minister Abiy Ahmed (PhD) has appointed Dr. Eyob Tekalign Tolina as Governor of the National Bank of Ethiopia (NBE). The appointment follows the resignation of Mamo Mihretu, who stepped down earlier this month after serving as governor since January 2023
Dr. Eyob Tekalign Tolina is a prominent Ethiopian economist and public servant who, until his appointment, served as State Minister of Finance and Planning. In that role he worked at the center of Ethiopia’s macro-economic reform agenda, helping to shape fiscal and development policy and to coordinate national planning priorities.
His career spans high-level positions in both national and international institutions. Before joining the Ministry of Finance and Planning, Dr. Eyob was Minister in charge of Ethiopia’s National Planning Commission, where he oversaw key elements of the country’s Homegrown Economic Reform Agenda. His expertise has also been sought by international financial institutions: he has served as an advisor to Ethiopia’s governors at the World Bank and the International Monetary Fund.
Earlier in his career, Dr. Eyob worked as a Minister Counselor at the Ethiopian Embassy in Washington, D.C., and as a private-sector consultant, giving him a broad perspective on the interaction between public policy and market dynamics. He is recognised for his work in public finance management, private-sector development, and international economic cooperation.
Academically, Dr. Eyob holds a doctoral degree in Political Economy from the University of Maryland, a master’s degree in International Development from a U.S. university, and a bachelor’s degree in Economics from Addis Ababa University. This combination of academic training and practical experience has made him a respected voice on economic matters in Ethiopia and internationally.
Central Bank’s Role and Current Context
The National Bank of Ethiopia is the country’s monetary authority, responsible for setting and implementing monetary policy, managing foreign-exchange reserves, regulating and supervising commercial banks, and overseeing payment systems.
Dr. Eyob takes office at a time when the Bank faces persistent inflationary pressures, ongoing foreign-exchange shortages, and the need to deepen reforms aimed at modernising the financial sector.
Transition After Mamo Mihretu’s Tenure
Mamo Mihretu’s term included efforts to stabilise the foreign-exchange market, initiate financial-sector reforms, and strengthen the central bank’s capacity for price stability. His resignation, announced in early September, created the opening for new leadership to carry forward these initiatives.
The Prime Minister’s Office has not yet released details of the new governor’s policy roadmap. Observers expect Dr. Eyob to outline his priorities in the coming weeks as he assumes leadership of Ethiopia’s central bank and guides the next phase of monetary and financial-sector reforms.
