Ethiopia has set aside several billion dollars to cushion the impact of its ongoing economic reforms, aimed at securing support from the International Monetary Fund (IMF). The IMF forecasts the inflation rate could rise to an average of 30% this fiscal year before stabilizing,” Eyob noted. On Monday, it traded at 93.1206 birr per dollar, according to central bank data, while the unofficial market saw rates around 122 birr per dollar. Ethiopia’s external debt stands at approximately $29 billion, with half potentially subject to restructuring. The government has already restructured some domestic debt, converting 265 billion birr of Treasury bills held by pension funds into 10-year securities.
