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Ethiopia distributes 96 billion Birr new currency notes – etbaba.com

The National Bank of Ethiopia said it has distributed over 96 billion Birr (about $2.6 billion) valued new currencies notes since the country began replacing the old currency with the new ones. Governor of the Bank, Yinager Desse (PhD) stated that all the ….bank branches in the country have received the new currency notes. “Based […]

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Africa needs modern African statistical systems, Ethiopian President – etbaba.com

The seventh meeting of the Statistical Commission for Africa (StatCom7) opened virtually on Tuesday with a clarion call from Ethiopia’s President Sahle-Work Zewde for Africa to urgently transform and modernize its national statistical systems, especially in light of the continuing novel coronavirus pandemic. In remarks to officially open the meeting, Ms. Zewde said African governments […]

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Meeting stresses private sector role in post-pandemic development – etbaba.com

Delegates representing African finance and development ministries, and the private creditor community virtually met to discuss the role of the private sector in supporting low-income countries through the COVID-19 crisis, and driving post-pandemic development. Following the meeting the United Nations Economic Commission for Africa (ECA) and the Institute of International Finance (IIF) issued a statement […]

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Landlocked developing countries need support- UN agency – etbaba.com

The Economic Commission for Africa (ECA) on Wednesday participated in the Annual Ministerial Meeting of Foreign Ministers of Landlocked Developing Countries (LLDC) and highlighted the need for sustained and consistent support to LLDCs found in Africa such as, Ethiopia. In her remarks, ECA Executive Secretary Vera Songwe said Africa is home to the majority of […]

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Ethiopia introduces new currency – etbaba.com

The Government of Ethiopia has unveiled new currency notes replacing the old ones, Prime Minister Abiy Ahmed, said. He made the statement on Sunday indicating that all the paper 5 Birr, 10 Birr, 50 Birr and 100 Birr notes will be replaced with new notes. He also indicated that the country will also introduce 200 […]

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Ethiopia introduces 10 years plan to become prosperous – etbaba.com

Ethiopia introduces 10 years plan to become prosperous NEWS – Planning Commission of Ethiopia introduces a ten years development plan that targets cutting the number of people living below poverty line by more than half. Fitsum Assefa (PhD), Minister of Planning and Development Commission, indicated that the plan focuses mainly on developing agriculture, tourism, manufacturing, […]

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Ethiopia foreign debt declines to 25 percent – etbaba.com

Ethiopia foreign debt declines to 25 percent Ethiopia’s foreign debt has declined over the past two years from 31 percent of its GDP to 25 percent, Prime Minister Abiy Ahmed said. Explaining the outcomes of his economic reforms, Prime Minister Abiy on Monday mentioned percentage of Ethiopia’s debt to GDP ratio as an example to […]

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Ethiopia expects 6 percent economic growth – etbaba.com

Ethiopia expects 6 percent economic growth Amidst the challenges faced by the outbreak of the global pandemic, coronavirus, Ethiopian economy is expected to grow by six percent this year, Prime Minister Abiy Ahmed said. Addressing the members of parliament on various topics this morning, Prime Minister Abiy stated that coronavirus has not only brought challenges […]

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Imagining Ethiopia post COVID-19 – etbaba.com

Imagining Ethiopia post COVID-19 BY ANDUALEM SISAY GESSESSE – At this point of time no one dares to estimate what our world look like or which one of our current habits and lifestyles will be changed forever post COVID-19. It is also hard to predict accurately how severely the global pandemic affects the economy of […]

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Ethiopian parliament approves $1.4 billion additional budget – etbaba.com

To mitigate the economic and social impacts of COVID-19, Ethiopian Parliament on Friday approves an addition budget of 48.6 billion birr (about $1.43). Most of the additional budget will be used for supplying food and necessary facilities for some 15 million Ethiopians affected by the impacts of coronavirus (COVID-19), according to the Minister of Finance […]

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