Ethiopia has done made major adjustments to its foreign exchange regulations in a bid to cure an acute shortage of especially dollar bills. Since then, Ethiopia has secured dollar injection promises from the United Arab Emirates and other financial players. The measures include the following:1 – The Committee raised the interest rate yield for “27% NBE bill” that requires private banks to purchase National Bank of Ethiopia (NBE) bonds from current 3% to 5%. 3 – NBE’s purchase of 30% of the forex earnings of the private banks will be at mid rate instead of the current buying rate. The most visible reforms have been on the political front with the release of political prisoners, revisiting repressive laws and putting Ethiopia on the path of credible polls in 2020.

Source: Ethiopian News August 30, 2018 00:56 UTC