The birr currently trades at 53.42 to the U.S. In 2020, the IMF recommended moving to a market-clearing exchange rate regime, to deal with an overvalued currency and FX shortages. "A sensible macro reform is always our agenda but there should not be any concern about mere devaluation."Įthiopia currently operates a managed exchange rate for the birr, allowing it to depreciate gradually against the dollar. Completely unfounded," state finance minister Eyob Tekalign said on Twitter. "There is widespread rumor that devaluation is in the making.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |