Ethiopia Devalues its Currency

The ongoing forex crisis has resulted in the government devaluing the birr by 15% and hiking interest rates by two percentage points.

(File photo).

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    Addis Fortune, 7 June 2016

    For poor countries, the value of remittances is enormous. Since 1996, remittances have been worth more than all overseas development aid (ODA), and for most of the past decade more… Read more »

  • Ethiopia:   Deafening Inaction in the Face of the Birr's Decline

    Addis Fortune, 13 December 2016

    One major drag to Ethiopia's growth aspiration is perhaps the central bank and those we are in charge of the nation's monetary policy affairs. At the helm of the National Bank of… Read more »

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    Addis Fortune, 20 December 2016

    In the midst of the liquidity crises that engulfed Ethiopia's private banking industry, the National Bank of Ethiopia (NBE) has been trying to respond to the crisis in the… Read more »

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