Radar | May 07,2022
Mar 22 , 2022
Importers and commercial banks are no longer required to cover the total cost of shipping goods in foreign currency, say regulators at the central bank.
A letter sent to the state-owned Ethiopian Shipping & Logistics Services Enterprise (ESLSE) last week informed its executives that importers and banks need only pay half the transport fees in foreign currency, covering the rest in Birr. They attributed their move to a debilitating level of foreign exchange availability.
Signed by Yinager Dessie (PhD), governor of the National Bank of Ethiopia (NBE), the decision changes the 12-year-old practice covering the total freight costs in foreign exchange. Lately, the NBE has seen commercial banks “struggle" with mobilising forex due to the central bank’s tightened retention policies.
Commercial banks are to collect the transport fees in Birr before converting half into forex and transferring the amount to the shipping company at the end of every month.
Viewpoints | May 21,2022
Covid-19 | Apr 04,2020
Fortune News | Dec 10,2022
My Opinion | Sep 19,2020
Agenda | Jul 18,2021
My Opinion | 127995 Views | Aug 14,2021
My Opinion | 124208 Views | Aug 21,2021
My Opinion | 122329 Views | Sep 10,2021
My Opinion | 120181 Views | Aug 07,2021
Apr 20 , 2025
Mufariat Kamil, the minister of Labour & Skills, recently told Parliament that he...
Apr 13 , 2025
The federal government will soon require one year of national service from university...
Apr 6 , 2025
Last week, the International Finance Corporation (IFC), part of the World Bank Group...
Mar 30 , 2025
When the private satellite channel, Ethiopian Broadcasting Service (EBS), aired an em...
Loading your updates...