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EconomyThe National Bank of Ethiopia (NBE) has announced that it will inject USD 500 million into the foreign exchange market during the first quarter of the 2026/27 fiscal year through a series of bi-weekly foreign exchange (FX) auctions. According to a press release issued on July 22, 2026, the central bank will conduct four FX
EconomyEthiopia’s annual inflation rate rose to 13.9% in June 2026, up from 13.4% in May, marking a continued acceleration in consumer prices after inflation had eased to single digits at the end of 2025. The increase was primarily driven by food inflation, which climbed to 15.1%, reflecting persistent increases in the prices of essential food
EconomyThe International Monetary Fund (IMF) has urged the National Bank of Ethiopia (NBE) to prepare a long-term exit from its role as the country’s sole buyer of artisanal gold, warning that the arrangement is injecting substantial liquidity into the economy and complicating efforts to contain inflation. The recommendation is contained in the IMF’s Fifth Review
Banking & FinanceEthiopia has taken its biggest step yet toward a modern interest-rate-driven monetary policy framework, with the National Bank of Ethiopia (NBE) removing the credit growth ceiling that restricted bank lending for nearly three years while raising its benchmark policy rate for the first time. Following the seventh meeting of the Monetary Policy Committee (MPC), the
BusinessEthiopia attracted $4.32 billion in Foreign Direct Investment (FDI) during the 2018 Ethiopian Fiscal Year (FY 2025/26), marking an 8% increase compared to the previous fiscal year, according to the Ethiopian Investment Commission (EIC). The figures were presented during the Commission’s annual performance evaluation meeting, where EIC Commissioner Dr. Zeleke Temesgen reviewed the institution’s achievements
BusinessEthiopia’s House of People’s Representatives has approved a 2.34 trillion birr federal budget for the 2019 Ethiopian fiscal year (2026/27), following a majority vote in Parliament. The budget was endorsed after the Standing Committee on Planning, Budget and Finance Affairs presented its recommendations, stating that the spending plan reflects the country’s fiscal capacity and aligns
EconomyThe International Monetary Fund (IMF) Executive Board has completed the fifth review of Ethiopia’s 48-month Extended Credit Facility (ECF) arrangement, approving an immediate disbursement of approximately US$464 million (SDR 342.05 million) to support the country’s balance of payments and fiscal financing needs. The latest approval brings total IMF disbursements under the program to about US$2.647
EconomyEthiopia and Italy have signed a €70 million concessional budget support loan to finance the country’s Third Development Policy Operation (DPO3), aligning with complementary financing from the World Bank. The agreement was signed by Ethiopia’s Minister of Finance, Ahmed Shide, and Italy’s Ambassador to Ethiopia, Sem Fabrizi. Speaking at the signing ceremony, Ahmed Shide said
EconomyEthiopia has reached a preliminary agreement with key bondholders to restructure its defaulted $1 billion international bond, marking a significant step toward resolving a debt crisis that has persisted for years, the Ministry of Finance announced on Monday. Under the proposed terms, Ethiopia will issue an $880 million restructured bond to be repaid in installments,
EconomyEthiopia’s House of People’s Representatives has approved a USD 600 million loan agreement with the International Development Association (IDA), the World Bank’s concessional lending arm, during a special parliamentary session held on Friday. The approval came just hours after the Council of Ministers reviewed and endorsed three financing agreements signed with the IDA, stating that
Banking & FinanceThe National Bank of Ethiopia (NBE) has successfully conducted its 23rd Special Foreign Exchange Auction, allocating USD 100 million to participating banks at a marginal rate of 157.9999 birr per U.S. dollar. According to results released by the central bank on Tuesday, the auction attracted total bids worth USD 236.3 million, more than double the
EconomyEthiopia’s annual inflation rate rose to 13.4 percent in May 2026, marking a sharp increase from 11.7 percent in April and signaling renewed pressure on household budgets after months of easing price growth. According to the latest Consumer Price Index (CPI) data released by the Ethiopian Statistical Service (ESS), the increase was largely driven by
