Ethiopia
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
Ethiopia adopts market-based FX regime
Move follows monetary policy reform aimed at attracting IMF funding
Ethiopia launches new monetary policy framework
Move is part of effort to unlock much-needed funding from IMF
Ethiopia approves CBDC law as it pursues bitcoin mining policies
Monetary policy and financial stability committees established as part of economic reforms
Ethiopia’s central bank issues first foreign mobile money licence
Central bank says there is strong public demand for fintech services
Illegal gold trade impacts Ethiopian reserves
Assosa region holds one of the greatest untapped resources of gold in the world
People: January to March 2023
A round-up of central bankers in the news and on the move during the past three months
Ethiopian PM nominates new central bank governor
“Young technocrat” Mamo Mihretu has served as head of sovereign wealth fund
Ethiopia’s central bank launches digital payments strategy
NBE pledges to launch retail real-time payments system and consider charges on cash use
Ethiopia launches new high-denomination banknote
New 200 birr note aims to curb inflation and corruption, central bank says, as Covid-19 slows growth
IMF extends Article IV consultations as it steps up aid efforts
Nine more countries receive IMF aid as demand continues at “unprecedented” levels
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
Ethiopia needs to rebalance after investment boom – IMF Africa chief
Country has achieved impressive development but vulnerabilities have grown, says Abebe Aemro Selassie
IMF advises Ethiopia central bank to stop financing government
Central bank’s tighter monetary policy should be supported by end to monetary financing – IMF
Ethiopian government appoints new bank governor
No reason given for replacement as new prime minister announces major economic liberalisation strategy
Birr plunges 15% as Ethiopia devalues currency
Move aims to tackle “severe” forex shortage; IMF recommends higher interest rates and more flexible exchange rate
Ethiopia launches ‘first of its kind’ swap agreement with Sudan
Central banks to swap $16 million under new agreement designed to strengthen financial co-operation and ease Ethiopia’s foreign exchange pressures
Ethiopia still ‘under banked’ despite 34% increase in bank branches
National Bank of Ethiopia reveals large increase in bank branches in annual report; argues there is still a need to ‘further develop’ the financial sector
Ethiopia to overhaul payments system
The central bank of Ethiopia plans to introduce a new system to centralise payments and communication in the country within a year; $3.6 million contract awarded to Indian tech company
IMF’s Shinohara highlights Ethiopia’s economic challenges
Naoyuki Shinohara, deputy managing director of the IMF, says Ethiopia still has work to do on containing high inflation and raising savings, among other issues
Ethiopia’s Atnafu calls IMF to sharpen focus on LICs
National Bank of Ethiopia governor Teklewold Atnafu calls for Fund to scale up resources in lower-income countries