However, legalisation might presuppose adopting a floating exchange rate, which can work best with a system that maintains a sustainable source of foreign currency, according to an expert who ...

According to him, open economies that have free floating exchange rates tend to perform better in international markets; and Ethiopia needed just to choose the right time to move towards that.

That would ease a foreign exchange crunch and help fund reconstruction and restructure debt after Ethiopia defaulted in December 2023.

The Ministry of Trade and Regional Integration (MoTRI) has revealed that the floating exchange rate reform is yielding significant outcomes, with improving the quality of export products being a ...

Following the Executive Board discussion, Mr. Bo Li, Deputy Managing Director and Chairman of the Board, made the following statement: “Ethiopia’s program under the ECF has made a solid start, and the ...

Formal completion of the review by the IMF Executive Board would give Ethiopia access to financing of about US$345 million. Implementation of Ethiopia’s homegrown economic reform program, including ...

The floating exchange rate, announced by the National Bank of Ethiopia (NBE) and welcomed by international financiers, including the International Monetary Fund (IMF), is a key pillar of the ...

And as part of their efforts to address these problems, they have switched their currencies from a fixed exchange rate to a floating exchange rate, which sounds a little wonky.