Moody's Investors Service ("Moody's") has affirmed Ethiopia's B1 long-term issuer and senior unsecured ratings changing the outlook on the Government of Ethiopia to negative from stable on September 20, 2019.
The \Ministry of Finance unveiled what it called a “Home-Grown economic Reform” this week, spearheaded by the Office of the Prime Minister with the involvement of various policy institutions including the National Bank of Ethiopia (NBE), at an event held on Wednesday, August 28, 2019, at Sheraton Addis Hotel in Addis Ababa.
With the Ethiopian Horticultural industry on the rise and becoming an important source of foreign exchange to the nation, the Ethiopian Horticultural Producer Exporters Association in collaboration with Addis Ababa University has held a timely research conference on agro-logistics inside the Intercontinental Hotel last weekend.
Following the removal of the National Bank of Ethiopia’s directive that compels oil and gas companies to open a foreign bank account in Ethiopia international oil companies have shown interest to take new concessions.
The Government of Ethiopia (GoE) is preparing a three-year financial program to overcome the country’s daunting financial challenges, Eyob Tekalign (PhD), State Minister of Finance, said at the fifth Annual Private Equity in East Africa Conference held at Sheraton Addis Hotel on June 13, 2019.
A directive issued by the National Bank of Ethiopia (NBE) requesting foreign oil companies engaged in oil and gas exploration and development projects in Ethiopia to open a foreign currency bank account in Ethiopia has frustrated international oil companies.
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.