Authority sues firms for price-gouging
The Trade Practices and Consumer Protection Authority has sued 15 local steel bar producers and importers for jacking up prices following devaluation of the birr in October.
IMF chief calls for opening up of economy
During a historic first visit to Ethiopia by a head of the International Monetary Fund (IMF), its managing director, Christine Lagarde, stressed that there was no harm in letting the private sector operate in the economy.
World Bank commits USD 4.7 bln to Ethiopia
Says devaluation produced insignificant upswing in prices Aligning its development intervention with that of the Government of Ethiopia, the World Bank Group (WBG) has unveiled a USD 4.7 billion financing for Ethiopia’s economic development programs for the coming four years, on Thursday.
Gov’t to absorb fuel prices change due to devaluation
Prime Minister Hailemariam Dessalegn announced on Thursday that the government has decided to absorb potential effect of the recent devaluation of the birr on retail fuel price in a move that amounts to be the first government subsidy on fuel products since 2008.
Currency devaluation hikes census cost
Following the 15 percent devaluation in the purchasing power of the birr against the dollar, the Central Statistics Agency (CSA) was forced to adjust its payment to the suppliers of 180,000 tablets and 126,000 pieces of power banks by 144 million birr, this week.
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