A changeover to redesigned currency has plunged Africa’s largest economy into crisis just ahead of a presidential election: There aren’t enough new banknotes in a country reliant on cash. “We were told to drop the old currency (notes) in the bank and that new one is coming,” she said. Businesses unable carry out transactions have been forced to close, and people are illegally selling new currency notes at higher rates. As people become more desperate for cash, the impact is likely to spill into the Feb. 25 presidential election. The crisis has left Inemesit too tired and frustrated to think of the upcoming presidential vote.

Source: Ethiopian News February 19, 2023 13:50 UTC