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BusinessEthiopia just slid into China’s DMs, economically speaking. The country has started talks to convert part of the $5.38 billion it owes Beijing from dollar loans to yuan-denominated debt, taking a page out of Kenya’s playbook (and probably borrowing its calculator too). National Bank Governor Eyob Tekalign told Bloomberg that a currency swap “makes sense”
EconomyThe International Monetary Fund (IMF) has projected Ethiopia’s economy to expand by 7.2% in the current fiscal year, marking one of the strongest growth outlooks in sub-Saharan Africa. The forecast is part of the IMF’s latest annual regional economic report, released on Thursday. While slightly more conservative than the Ethiopian government’s target of 9%, the
Ethiopia’s efforts to restructure its sovereign debt have stalled after negotiations with international bondholders broke down, raising the risk of legal disputes and prolonging the country’s financial uncertainty, Reuters reported. The government confirmed that talks with holders of its $1 billion Eurobond had ended without a deal, citing disagreements over key restructuring terms. Ethiopia, which
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of its 10th foreign exchange auction, allocating U.S. dollars to 31 commercial banks at a weighted average rate of Birr 148.1007 per USD, signaling continued adjustment toward a market-driven exchange rate. The latest allocation follows the central bank’s $150 million injection during Auction No. 9
Banking & FinanceEthiopia’s central bank said on Monday it will hold a $150 million foreign exchange auction on October 14, its first such operation in more than two months, as part of efforts to boost liquidity and stabilise the currency market. The National Bank of Ethiopia (NBE) said in a statement that improving foreign exchange inflows this
EconomyEthiopia is on track to see its poverty rate rise to 43% next year, reversing hard-won gains made over the past two decades, as conflict, drought and surging inflation strain living standards, according to newly released projections. Poverty, measured at the $3 per day international line (2021 PPP), climbed from 33% in 2016 to 39%
BusinessEthiopia has officially flipped the switch on continental free trade. In a landmark move, the country has kicked off exports under the African Continental Free Trade Area (AfCFTA), sending its first shipments of meat, fruits, coffee, oilseeds, and yes, khat to Kenya, Somalia, and South Africa. The launch wasn’t just ceremonial. Ethiopian Airlines Cargo was
Banking & FinanceImagine this.Ethiopia’s economy has been one of Africa’s fastest-growing for over a decade, skylines rising, industrial parks buzzing, public projects transforming entire regions. Yet, behind the growth story lies a quieter, more puzzling one: the government’s tax revenue has been shrinking relative to the size of the economy. In 2014, for every 100 birr produced
Banking & FinanceOn a muted September afternoon in Addis Ababa, the announcement arrived without ceremony but carried the unmistakable weight of a turning point: Dr. Eyob Tekalign would assume the governorship of the National Bank of Ethiopia. There were no dismissals wrapped in drama, no emergency pressers or currency shocks—just a quiet passing of the baton from
Banking & FinanceEthiopia’s Ministry of Finance has released its Treasury bills auction schedule for the final quarter of 2025, outlining plans to issue 243.05 billion birr across four maturities between October and December. According to the calendar, auctions will be held every two weeks from Oct. 1 to Dec. 24, offering 28-day, 91-day, 182-day and 364-day bills.
Banking & FinanceEthiopia has officially begun restructuring talks with investors holding its $1 billion international bond, according to a source familiar with the process who spoke to Reuters on Monday. The discussions are being held in Paris, the source said, confirming an earlier Bloomberg report. An official from Ethiopia’s Ministry of Finance also confirmed that a government
Banking & FinanceEthiopia’s central bank kept its benchmark interest rate unchanged and modestly raised its credit growth target after a policy review that pointed to easing inflation but lingering risks. The Monetary Policy Committee (MPC) of the National Bank of Ethiopia (NBE), meeting on Sept. 25, said it would maintain the National Bank Rate at 15% and
