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Banking & FinanceThe National Bank of Ethiopia (NBE) allotted USD 500 million at a Special Foreign Exchange Auction held on Thursday, clearing the market at a marginal rate of 160.2121 Birr per US dollar, 0.79 birr below the cut-off rate recorded at the regular auction eight days earlier. The intervention was four times the size of Foreign
EconomyA U.S. federal judge has cleared the way for the Trump administration to end Temporary Protected Status (TPS) for more than 5,000 Ethiopians living in the United States. U.S. District Judge Brian Murphy in Boston on Tuesday lifted the remaining judicial block on the Department of Homeland Security’s decision to terminate Ethiopia’s TPS designation. The
Somewhere along the way, Ethiopia’s stalled job market became a story about laziness. It’s a familiar narrative, usually aimed at the young and the unemployed. And repeated so often it started to sound intuitive, but does Ethiopia’s labour market actually support it? In this article we’re finding out. The theory goes something like this: the
BusinessKEFI Gold and Copper plc has announced that development activities at its flagship Tulu Kapi Gold Project in Ethiopia are progressing according to schedule, with community resettlement, equipment procurement, and contractor mobilisation moving forward ahead of planned mine construction. The London-listed gold and copper exploration company said the project remains on track to begin commissioning
EconomyA former World Bank president has sharply criticized Ethiopia’s exchange rate reform, arguing that the IMF-backed shift to a market-determined exchange rate has significantly worsened poverty while disproportionately benefiting banks and well-connected firms. The criticism comes from David Malpass, who served as President of the World Bank Group from 2019 to 2023, in Policy Research
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
