Ethiopia takes step towards financial liberalization
Ethiopia is undergoing a financial transformation as the central bank starts licensing independent foreign exchange bureaus.
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foreign exchange
Ethiopia’s birr weakens to 107.9 per dollar
As part of efforts to manage high inflation and foreign currency shortages, Ethiopia’s central bank held an auction, setting the exchange rate at 107.9 birr per U.S. dollar with participation from 27 banks.
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Nigeria approves naira crude sales to Dangote refinery
The move is expected to reduce the country’s reliance on foreign currency for oil imports and stabilize fuel prices.
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Ethiopia eases foreign exchange curbs to attract bailout
The move aims to attract a $10.5 billion bailout package from international lenders to address the country’s economic crisis, including high debt, inflation, and foreign currency shortages.
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UAE, Ethiopia sign deal to boost trade and investment
Ethiopia signs a currency swap agreement with the UAE, allowing for exchange of local currencies and promoting trade and investment.
UAE, Ethiopia sign deal to boost trade and investment Read More »