Governor Mamo Bets Big on Remittance
Central Bank Governor Mamo Mihretu has launched a 100 billion Br loan program to increase remittances, a vital source of foreign exchange for the country. The Governor announced the initiative, which involves all the 31 commercial banks.
The announcement was made at an exhibition promoting remittances, held at the Sky Light Hotel on September 5. The event, attended by bank CEOs and Central Bank officials, unveiled the authorities' desperate focus on tapping remittances as a source of foreign currency.
The strategy, dubbed the "Debo Campaign," demonstrating the federal government's desire...