FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo

Governor Mamo Ditches Bond Mandate Betting Aid, Exports Will Tame Inflation

Jun 27 , 2025

The Central Bank plans to lift a rule that forces banks and pension funds to buy government bonds, Governor Mamo Miheretu disclosed.

The National Monetary Policy Committee is expected to scrap the requirement after it meets on Monday, he told lawmakers while presenting the National Bank of Ethiopia’s (NBE) 11-month report.

Over the past three quarters, banks and pension funds bought 66.8 billion Birr of treasury bonds, while deposits climbed to 161.3 billion Br.

Mamo also disclosed that country should receive 750 million dollars in aid by the end of this month; half a billion dollars from the World Bank and the rest from the International Monetary Fund(IMF) as part of a third-round disbursement. An additional one billion dollars in foreign support is expected in the next budget year.

The Governor pointed to “considerable changes” in financial-sector reforms over the reported year. Foreign exchange earnings are projected at 32.1 billion dollars, up from 24 billion dollars a year earlier. Two bilateral loans worth 8.5 billion dollars have been postponed, easing short-term pressure after other loans were deferred for 14 years.

Inflation has cooled to 14.4pc in May this year, with food inflation down to 12pc. Non-food inflation remains higher at 17.8pc.

“We want it at single digit,” Mamo told federal legislators today of the Central Bank’s target for the coming year.

Put your comments here

N.B: A submit button will appear once you fill out all the required fields.



Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

Why the Clock Should Not Run Out on Share Ownership

Ownership is widely recognised as the most comprehensive right one can possess over p...

BRICS Countries Plot New World Order as Global South Demands a New Playbook

Brazil's capital, Rio de Janeiro, will host the BRICS+ Summit of presidents and heads...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

Expanding Federal Budget Tests Limits of Fiscal Discipline

Jun 21 , 2025

A well-worn adage says, “Budget is not destiny, but it is direction.” Examining t...

Desire to March to the Sea Should Spill Reason on the Way

Jun 14 , 2025

Yet again, the Horn of Africa is bracing for trouble. A region already frayed by wars...

Where the Roof Overhead Comes with a Ceiling on Hope

Jun 7 , 2025

Few promises shine brighter in Addis Abeba than the pledge of a roof for every family...

Courting Foreign Buyers of Properties While Land Remains State-Owned

May 31 , 2025

It is seldom flattering to be bracketed with North Korea and Myanmar. Ironically, Eth...

Gallery

Parliament Approves New Cabinet Members

Oct 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

Jan 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

Sep 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

Dec 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

Apr 26 , 2019

Sunday With Eden

Absence of Agile Discipline

In Ethiopia, across both public and private sectors, a quiet saboteur undermines productivity: the meeting. Too often, gatherings stretch en...

Before Help Can Be Summoned

Over the weekend, a parent shared the story of a friend's teenage son who died after unknowingly taking pills laced with fentanyl. “He was...

Life Matters

The Weight of the World

The film Straw did not just break a heart, it reached into something deeper, unsettling a primal fear that resides in every parent. As a mot...

The Curious Case of Barking Dogs

On multiple occasions, I have found myself watching the garbage collectors on their morning route, a subtle unease settling in. There is a s...