Ethiopia’s Birr Plummets by 82% to 103.94: CBE Leads the Charge in Currency Float
Ethiopia recently made a significant shift in its monetary policy by floating its currency, the birr. This move has led to a sharp devaluation,...
Prime Minister Calls Banks’ Efforts Inadequate in Closing the Exchange Rate Gap with the Black Market
In a recent address to various segments of the public, including regional leaders, ministers, and investors, Prime Minister Abiy Ahmed urged Ethiopian banks to...
Ethiopia Announces 300% Salary Increase for Low-Income Government Employees
Salary Increase for Government Employees: A Response to Economic ChallengesIn a recent address, Prime Minister Abiy Ahmed (Dr.) outlined significant salary revisions for government...
5 Things to Know About the National Bank of Ethiopia’s New Foreign Exchange Guidelines
The National Bank of Ethiopia (NBE) has released a comprehensive new guideline to regulate the country's foreign exchange market, set to take effect on...
Ethiopia’s National Bank Aligns Gold Prices with Global Market Rates in New Payment Policy
The National Bank of Ethiopia has implemented a new policy for purchasing gold, which links the payment to the daily international gold price and...
World Bank Approves $1.5 Billion Initiative, Commits $6 Billion for Ethiopia’s Growth
Washington, July 30, 2024 — The World Bank's Board of Executive Directors has approved the Ethiopia First Sustainable and Inclusive Growth Development Policy Operation,...
