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NEWS ALERT: Ethiopia Lifts LC Ban on Imports, Partially

Nov 18 , 2022

The federal government has partially lifted the ban on imported goods a month after it was imposed on items under several categories.

The Ministry of Finance announced that furniture, duty-free shops, restaurants and hotels that import items using foreign currency generated through their sales would not need to comply with the restrictions. Officials of the Ministry issued letters to the National Bank of Ethiopia (NBE) and Customs Commission advising on the changes.

A month ago, the Ministry banned imported goods under 38 categories, including cosmetics, packed foods and furniture, from accessing letters of credit.

A letter signed by the State Minister for Finance, Smereta Sewasew, attributed the ban to the decision by the federal macroeconomic team to give priority to essential imports, saying that it would remain in place indefinitely.

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