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Ethiopian Premier Defends Currency Float Decision, Rejects Devaluation Claims

Bitcoin.com
Ethiopian Premier Defends Currency Float Decision, Rejects Devaluation Claims
Africa
Ethiopian Premier Defends Currency Float Decision, Rejects Devaluation ClaimsThe Ethiopian Prime Minister, Abiy Ahmed, has defended the decision to float the birr and insisted that this move does not amount to the devaluation of the currency. Ahmed stated that the intention is to unify the official and parallel market exchange rates. Reports suggest that Ethiopia’s decision to float the birr was promptly rewarded […]
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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

Ethiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements Scrapped

Bitcoin.com
Ethiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements Scrapped
Africa
Ethiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements ScrappedEthiopia’s birr plunged 30% against the dollar after the central bank floated the currency as part of reforms aimed at correcting foreign exchange market distortions. The bank also eliminated foreign exchange surrender requirements and lifted restrictions on certain imports. In return, Ethiopia, which is seeking BRICS membership, is expected to receive a $10.7 billion loan […]
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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

Ethiopia Orders Banks to Reject Requests for Foreign Exchange to Buy ‘Non-Priority Products’

Bitcoin.com
Ethiopia Orders Banks to Reject Requests for Foreign Exchange to Buy ‘Non-Priority Products’
Africa
Ethiopia Orders Banks to Reject Requests for Foreign Exchange to Buy ‘Non-Priority Products’The Ethiopian government has instructed banks to reject requests for foreign currency to buy so-called non-priority products. The Ethiopian Minister of Industry Melaku Alebel Addis has defended the move, saying this will allow local manufacturers to grow and become competitive. The restrictions are set to remain in force for an indefinite period. Eliminating Pressure From […]
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SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

SEC Chair Gary Gensler Ends Tenure a Year Early to Avoid Trump’s Axe

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