Ethiopia has undergone recurring foreign currency devaluations in the past few years. Amid continuous meetings with institutions like the IMF, there have been concerns that the National Bank of Ethiopia might further devalue the Ethiopian Birr. In the last Ethiopian fiscal year, Ethiopia raised $24 billion in foreign currency from various sources. Mamo Mihretu, Governor of the National Bank of Ethiopia, dismisses the prospect of a currency rate adjustment, stating that there won’t be one at this point. Subscribe to YouTube channel To share information or for submission, send e-mail to info@borkena.com

Source: Ethiopian News December 27, 2023 06:03 UTC