The Addis Ababa Federal Police has raided the foreign exchange black market shutting down all suspected stores located around Gandhi Hospital and Ethiopia Hotel. The stores, believed to do the illegal business,have been shut since late last week and are now guarded by the police to prevent from evidence tampering.
The minerals export earnings, which has been declining in the past consecutive years, fetched an all-time low revenue of USD 130 million in the 2017-2018 fiscal year that ended last June.
Many agree that the country’s current foreign currency crunch is in dire need of creative solutions as it has reached chronic level. In fact, it is critical now that the country is facing difficulty in importing lifesaving medication like insulin.