Category
200 articles
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the appointment of two senior executives to strengthen its leadership team amid an ongoing period of financial sector reform. Wro. Weynshet Zeberga has been appointed Chief Markets & Operations Officer, while Ato. Robel Tesfaye will serve as the bank’s new Chief Technology Officer, the central bank confirmed
Banking & FinanceThe Government of Ethiopia and the African Development Bank (AfDB) have signed a USD 71.9 million financing agreement to strengthen climate resilience and food security efforts across vulnerable communities. The agreement, signed at the Ministry of Finance, will support the Ethiopian component of the Building Resilience for Food and Livelihoods (BREFOL) program. The AfDB is
Banking & FinanceEthiopia and France have signed a landmark debt restructuring agreement and a new €81.5 million financing package, deepening bilateral ties and reinforcing support for Ethiopia’s ongoing macroeconomic reforms. The agreements were formalized in Addis Ababa by Ethiopia’s Minister of Finance Ahmed Shide and France’s Minister Delegate for Europe and Foreign Affairs, Eléonore Caroit. In a
Banking & FinanceThe National Bank of Ethiopia (NBE) has unveiled sweeping amendments to the country’s foreign exchange framework, introducing forward exchange trading, granting full foreign currency retention for service exporters, and significantly reducing administrative approval requirements in what marks one of the most consequential steps in Ethiopia’s ongoing FX reform. Under Directive No. FXD/04/2026, banks are now
BusinessThe National Bank of Ethiopia (NBE) has issued a clarification to address confusion surrounding the use of indicative prices set by the Ethiopian Customs Commission for selected import items during foreign exchange (FX) processing. In a public notice released on February 7, the central bank said feedback from banks and market participants showed uncertainty in
EconomyEthiopia and the United Kingdom have reaffirmed their long-standing partnership by signing three major cooperation agreements aimed at supporting economic reforms, strengthening public investment systems, and expanding green energy infrastructure. Prime Minister Abiy Ahmed (PhD) received Rt. Hon. Yvette Cooper, the UK Secretary of State for Foreign, Commonwealth and Development Affairs, where the two sides
EconomyEthiopia’s efforts to restructure its USD 1 billion Eurobond debt have suffered a major setback after its Official Creditors Committee (OCC) rejected an agreement in principle (AIP) reached earlier this month with private bondholders. In a letter addressed to Finance Minister Ahmed Shide, OCC co-chairs Yang Jing and Thomas Revial said the proposed agreement is
EconomyEthiopia has generated more than $5.1 billion in export revenue during the first six months of the current fiscal year, surpassing its target by a wide margin, the Ministry of Trade and Regional Integration announced on Wednesday. Speaking at a six-month performance review held in Dessie, Amhara region, Minister of Trade and Regional Integration Kasahun
BusinessThe Council of Ministers of the Federal Democratic Republic of Ethiopia approved a set of major economic and policy reforms aimed at modernizing trade, boosting investment, and strengthening entrepreneurship. At its 52nd regular meeting, the Council unanimously agreed to forward a draft amendment to the Customs Proclamation to the House of People’s Representatives. The amendment
EconomyU.S. President Donald J. Trump has announced his readiness to restart United States–led mediation between Ethiopia and Egypt over the long-running dispute surrounding Nile water sharing and the Grand Ethiopian Renaissance Dam (GERD). In a letter addressed to Egyptian President Abdel Fattah El-Sisi, Trump praised Egypt’s recent role in mediating a ceasefire between Israel and
Banking & FinanceThe International Monetary Fund (IMF) has approved an immediate disbursement of about USD 261 million to Ethiopia after completing the fourth review of the country’s program under the Extended Credit Facility (ECF). The decision brings total IMF disbursements to Ethiopia to about USD 2.18 billion under the 48-month program, which was approved in July 2024
Banking & FinanceThe National Bank of Ethiopia (NBE) has officially lifted its long-standing grip on interest rates, allowing banks to price money based on market forces for the first time in decades. The shift comes through the Interest Rates (As Amended) Directive No. NBE/INT/13/2026, signed by Governor Eyob Tekalign (PhD) and effective January 9, 2026. In simple
