The Ethiopian Economics Association (EEA) said on Thursday that the introduction of new banknotes and denomination into the monetary system might cause a shift in deposit preferences towards holding currency instead of depositing in the bank.
A new monthly report has indicated that, as of November 2019, the spike in inflation and the cost of living shows no signs of abating, as it did for the past four consecutive months, whereby headline inflation has increased by 20.8 percent.
The Budget and Finance Standing Committee of the House of People’s Representatives (HPR) lambasted the Ministry of Finance (MoF), over its handling of inflation and soring living costs, which they say has affected citizens across the country.
With no signs of abating, the consumer price index inflation in Ethiopia is reported have reached a seven-year high in the just ended month, intensifying fears that it might exacerbate the already distorted macroeconomic situation in Ethiopia, The Reporter has learnt.
Followers of the Ethiopian Orthodox Church are preparing to celebrate Easter, this Sunday, a week after the rest of the Christian community across the world. Finishing up the longest lent season in Ethiopian orthodox tradition — Tsome-Hudade—Easter heralds the end of the two-month vegan diet for millions of Ethiopian.