ADDIS ABABA (ENA) - The demonetization of the old Ethiopian Birr notes this week will play a crucial role to boost the economy by stabilizing the macroeconomy and controlling illegal money transactions, experts said. According to him, the economy will get a boost to recover as the macroeconomy would be stabilized through this process as banks get a chance to collect huge amount of money. "The change of the currency notes will make people deposit money in banks which in turn will have sufficient amount of money to provide in loan for investments," he explained. The National Bank of Ethiopia announced on Monday the launching of new currency notes and new 2.9 billion birr notes are now replacing the old notes, it was learned. Ethiopia has spent 3.7 billion Birr to print the new 10, 50 and l00 Birr denominations with an additional new 200 Birr note.

Source: Ethiopian News September 20, 2020 09:33 UTC