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Ethiopia is fighting macroeconomic headwinds associated with severe inflation, mounting debt, and foreign currency shortage, which is impacting foreign investments in Africa’s second-most populous country.
The National Bank of Ethiopia (NBE) has released USD 175 million into the economy to forestall a foreign currency crisis linked to fuel-related payments falling due in the coming months, which could erode the economic dividend arising from the International Monetary Fund (IMF)-backed financial sector reforms.
The fuel-related import payments were contracted before the forex rate reforms including the liberalization of the forex market starting July 2024.
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Ethiopia is fighting macroeconomic headwinds associated with severe inflation, mounting debt, and foreign currency shortage, which is impacting foreign investments in Africa’s second-most populous country.
