Prime Minister Abiy Ahmed accused foreign embassies of illegal currency exchanges in Ethiopia.
In an address to the House of People’s Representatives, he raised concerns.
Abiy alleged some embassies are exploiting Ethiopia’s resources and conducting black market currency deals.
This involvement, he said, strains Ethiopia’s economy and foreign currency availability.
The black market, he noted, undermines efforts to stabilize the nation’s exchange rates.
While expressing restraint, Abiy emphasized respect for Ethiopia’s laws in diplomatic relations.
He stated that the government would closely monitor embassy activities and take action if necessary.
The accusations come as Ethiopia implements economic reforms, setting market-based exchange rates.
Banks and official bureaus now offer regulated forex rates, countering black market influence.
