Ethiopia’s central bank has revealed the recent devaluation of the birr has been an attempt to secure funding from the International Monetary Fund (IMF). The process involved loosening the tight restrictions imposed on the foreign currency market, which is key in getting IMF funding. “The reform introduces a competitive market-based determination of the exchange rate…...
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Ethiopia devalues the Birr to secure IMF funding
Muthoga Mungania
Muthoga Mungania is an award-winning, Nairobi-based multimedia journalist covering economic, corporate, financial, tech and investor relations matters among other business stories. Muthoga is seasoned in data and market analysis, corporate finance, and economic trends, making them a trusted voice in East African business journalism, communications and consultancy.
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