The Ethiopian government has introduced a “highly anticipated” economic reform, transitioning from a fixed exchange rate system to a “free-floating” one. The new policy is a major component of the government’s “Home-grown” Economic Reform Agenda, writes Endalkachew Abera Mekuriya, law lecturer at Haramaya University in the Oromia region of the country.
Before the latest policy shift, he wrote, the country grappled with economic challenges, including foreign exchange shortages and high inflation: “The reform is a crucial step towards ensuring long-term economic growth for the country, and it’s a comprehensive change that positively impacts investment and trade in goods and services, ” Mekuriya wrote.
Exchanging the Ethiopian Birr.
-
The cost of the conflict between Ethiopian forces and the Amhara region’s Fano militia is taking a toll on the region’s economy.
On August 14, 2023, Voice of Americ Read more »
