ADDIS ABABA (Reuters) – Ethiopia’s inflation rose to 7.7 percent year-on-year in January from 7.1 percent in the previous month, the statistics office said on Friday. The Central Statistics Agency attributed the jump to higher prices of food and non-food items. Prices for such items as meat, dairy products, vegetables and fruit increased 7.1 percent
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By Jeffrey Cavanaugh As a frontier market, the countries of Africa represent both tremendous opportunities and tremendous risks. On the risk side of the ledger are all the usual complications of international trade and investment compounded by the problems inherent in a developing, emergent continental market consisting of 54 countries and 1.1 billion people –
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The National Bank of Ethiopia (NBE) is on the process of establishing its own banknotes and security printing factory to print cash locally. The Bank announced a tender two weeks ago to hire an international consultancy firm to conduct a feasibility study for the printing plant on the state owned daily newspaper, The Ethiopian Herald.
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eNCA By Africa Edition ETHIOPIA – Ethiopia says it’s considering the World Bank’s suggestion to devalue its currency, the Birr, but government says it want to minimise the impact on the wider economy. In July, the World Bank released its third economic report on Ethiopia and advised the country to devalue its currency. The
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Bloomberg By William Davison Ethiopia’s birr is overvalued and the country would benefit from a devaluation to boost export revenue and accelerate economic growth, the World Bank said. Reducing the currency’s value by 10 percent in real terms may lead to a 5 percent increase in stalled export earnings and a 2 percent increase in
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