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Mar 27 , 2020
The administration of Prime Minister Abiy Ahmed (PhD) is expected to make major announcements soon disclosing economic stimulus package possibility through the banking system, according to several individus close to policy making.
The administration of Prime Minister Abiy Ahmed (PhD) is expected to make major announcements soon concerning an economic stimulus package through the banking system, according to several individuals close to policy making. The stimulus package is expected to ease the COVID-19 induced burden on businesses that are affected due to the economic slowdown.
The details are not disclosed yet, but it would likely be the repayment of billions of Birr for the banks as part of the 40 billion Br worth of 27pc bonds they bought issued by the central bank. The macroeconomic committee, chaired by Girma Biru, has been busy holding a series of meetings with representatives of the business community and industry leaders, including higher taxpayers, coffee exporters, the horticulture industry and bank executives.
The meetings have been held to diagnose the level and impact of the situation toward each sector.
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