ADDIS ABABA— Governor of National Bank of Ethiopia (NBE) said Ethiopia’s economy is recovering well in the past couple of months following last year’s instability in some parts of the country. The Bank has also finalized preparations to introduce the usage of movable properties as collateral for to access loan.
Briefing journalists yesterday, NBE Governor, Yinager Dessie (PhD) said that the inflation rate was 16 percent as of March 2018 and it has since decreased to 10.9 percent in January 2019. The current capacity of the national economy is improving the country’s endeavors to clear up its debts, he noted. He also said that additional measures are important to boost the foreign exchange earnings and reserves along with motivating the national economy’s capacity to create more job opportunities.
“New structures are on the way to remove financial sector bottlenecks,” he said. As to him, more than ten guidelines that were hindering the finance sector have been improved and three draft proclamations are expected to be approved soon. He further said that preparations are underway to promote the participation of the private sector, and Diasporas in the finance sector. According to him, in the future Ethiopian citizens and Ethiopian born individuals will participate in the finance sector easily.
The Ethiopian Herald February 21/2019
BY TEWODROS KASSA
