ADDIS ABABA – Ethiopia is working to limit the constraint of foreign currency shortage on its economy meaningfully with the “home-grown economic reform” program sustainably, Ministry of Finance said.
During the first discussion forum on the three years “Home-grown Economic Reform” program last week, State Minister of Finance Dr. Eyob Tekalign noted that forex shortage remains as main constraint feature of Ethiopian economy in recent years.
“The focus of the reform is to adjust the constraint factors of the economy. Hence, forex shortage is the main focus area of the reform program and it will no longer remain as main constraint feature of the economy during the reform program”, the state minister said.
According to Dr. Eyob the focus of the reform in forex exchange is widening the potential sources and taking deep reform measures on management side. He added that now government has identified the real problems and putting directions to solve the problem sustainably and significantly during the three years economic reform period.
National Bank of Ethiopia (NBE) Governor Dr. Yinager Dessie also argued that solving the forex shortage is part of the economic reform. He added that based on the plan of the reform, forex shortage will be solved in a decisive way. Dr. Yinager stated that to match the supply and demand side of forex, widening the supply and implementing clear mechanisms on demand side will be the main reform action and NBE is under serious institutional reform to regulate and manage the forex.
It was learnt that NBE (National Bank of Ethiopia), DBE (Development Bank of Ethiopia) and CBE (Commercial Bank of Ethiopia) are taking serious institutional reforms to create stable financial system in the country.
The Ethiopian Herald, September 7/2019
BY DARGIE KAHSAY
