6.1K views · 116 reactions | #Ethiopia: The National Bank of Ethiopia...
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ANALYSIS: The National Bank of Ethiopia recently published its 2023-2026 strategic plan. Some key facts: Timeframe: The plan outlines reforms over the next 3 years (2023-2026). Monetary policy: NBE aims to transition to a market-based monetary policy framework from its current approach. Inflation target: The central bank targets reducing inflation from the current 30% to under 10% by 2025 and eight percent by 2026. Reserves: NBE plans to grow foreign exchange reserves from under 1 month to over
ANALYSIS: The National Bank of Ethiopia recently published its 202…
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#Ethiopia shifts to market-based exchange rate with immediate currency devaluation The National Bank of Ethiopia (#NBE) announced today a major revision of the country's foreign exchange regime, shifting to a market-based exchange rate effective immediately. Following the announcement, the Commercial Bank of Ethiopia released a new exchange rate, devaluing the birr by 30 percent against the dollar. In April, Reuters reported that Ethiopia might need to consider a significant currency devaluation
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8.3K reactions · 141 shares | The leading bank in Ethiopia, established in 1942. Pioneer to introduce modern banking to the country with more than 1842 branches and more than 39M accounts across the country. | Commercial Bank of Ethiopia | Facebook
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