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What will be the interest rate set by the National Bank of Ethiopia 6 months after floating the birr?
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Less than 10% • 25%
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Official announcements from the National Bank of Ethiopia and reports from major financial news outlets
Story
Ethiopia to Float Birr in Major Economic Reform
Jul 28, 2024, 05:04 PM
Ethiopia has announced a significant shift in its economic policy by introducing a market-based foreign exchange regime. Prime Minister Abiy Ahmed stated that the country plans to float its currency, the birr, as part of a comprehensive macroeconomic reform policy. This reform includes adopting a free-floating currency and shifting to an interest rate-based monetary policy framework. The move is seen as a critical step towards modernizing Ethiopia's economy and aligning it with global financial systems.
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