Mamo Mihretu on the radical reform of central banking in Ethiopia
NBE head speaks about monetary policy and exchange rate reform, opening the financial system and a fundamental reset of the economy
At the end of last year, Ethiopia became the third African country (after Zambia and Ghana) post-Covid 19 to default on its sovereign debt after missing a payment on its eurobond. Does Ethiopia face a liquidity or solvency problem when it comes to repaying its debt?
Ethiopia chose not to pay a relatively small Eurobond coupon payment only because we had started negotiations with our bilateral creditors, and they collectively provided a debt-service standstill on our external debt-service
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