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BusinessEthiopia’s annual headline inflation rate eased to 14.9% in September 2026 from 15.1% in August, although it remained above the 13.2% recorded in September last year, according to data released by the Ethiopian Statistical Service (ESS). The latest figure represents a 1.7 percentage-point increase year on year, indicating that inflationary pressures remain elevated despite a
The National Bank of Ethiopia (NBE) sold USD 140 million to commercial banks on Tuesday at Foreign Exchange Auction No. 30. It was the first sale under the central bank’s enlarged second-quarter programme, and bank demand came in above the amount on offer, after two straight auctions that fell short. Banks bid a total of
Robert E. Hall of Stanford University and Michael Woodford of Columbia University have won this year’s Nobel-memorial prize in economics. The Royal Swedish Academy of Sciences honoured them “for microeconomic foundations of macroeconomic stabilisation.” In plain words: they showed governments and central banks how to calm an economy that is overheating or sliding into recession.
EconomyThe African Union has launched the Africa Credit Rating Agency (AfCRA), a new institution intended to provide alternative assessments of credit risk across the continent and improve African countries’ access to international capital markets. The agency was launched on Wednesday in Port Louis, Mauritius, where it will be headquartered. African leaders endorsed its creation in
Banking & FinanceThe National Bank of Ethiopia (NBE) will supply $840 million to commercial banks through foreign exchange auctions in the second quarter of the 2026/27 fiscal year, a 68% increase over its regular first-quarter allocation. In a statement issued on Tuesday, the central bank said it will hold six bi-weekly auctions of $140 million each, starting
BusinessEthiopia’s Council of Ministers has approved a package of decisions covering tax reform, digital governance, energy financing and the federal executive structure, according to the decisions from its 59th regular meeting. The most immediate economic measures involve Federal Income Tax and VAT regulations. The Council approved amendments to improve tax administration and transparency, while changes
EconomyEthiopia’s annual inflation rate edged down to 15.1% in August from 15.3% in July, the first slowdown after four consecutive monthly increases, but prices are still rising faster than a year ago as a rebound that began in the spring shows little sign of fading, data from the Ethiopian Statistical Service (ESS) showed. The August
EconomyThe National Bank of Ethiopia (NBE) and the International Finance Corporation (IFC) have signed a Framework for Cooperation to establish Ethiopia’s first dedicated Mortgage Refinance Company, Prime Minister Abiy Ahmed announced. The planned wholesale financial institution will be capitalized at 100 billion birr, with the IFC expected to contribute a minimum of $200 million, according
EconomyThe National Bank of Ethiopia (NBE) has issued a public awareness notice warning customers, members of the Ethiopian diaspora and the general public against using unlicensed money transfer agents and illegal Hawala networks. The central bank said unauthorized remittance operators are prohibited under Ethiopian law and may expose both senders and recipients to significant financial
EconomyThe National Bank of Ethiopia (NBE) has allocated USD 125 million in its 27th foreign exchange auction held on August 26, 2026, as banks competed for foreign currency amid continued efforts to strengthen the country’s foreign exchange market. The auction attracted USD 170.51 million in total bids, with five banks participating. Only two banks were
EconomyEthiopia’s annual inflation rate accelerated to 15.3% in July 2026, rising from 13.9% in June and marking the fourth consecutive month of increases. The latest reading is the highest inflation rate recorded since January 2025. Food inflation also accelerated, reaching 15.7% in July, up from 15.1% a month earlier and its highest level since January
EconomyEthiopia has moved closer to completing the restructuring of its $1 billion Eurobond after its official creditors approved a preliminary agreement between the government and private bondholders, while warning that a new warrant included in the deal could create unequal treatment among creditors. The Official Creditor Committee (OCC), co-chaired by France and China, said the
