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World Bank Touts Currency Reform to Lure Investment to Ethiopia

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Improvements to Ethiopia’s exchange-rate system are being considered that would help draw more capital, World Bank President David Malpass says

Foreign-currency shortages have plagued the country and led the authorities to restrict allocations to private industry.

The nation has an official exchange that’s currently at about 54 per dollar — little changed since the start of the year — and a parallel rate that’s almost double that on the streets of the capital, Addis Ababa.

 

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Is it the mandate of the WorldBank? Normally, IMF does offer developing & emerging market economies technical assistance (TA) programs for balance of payments (BOP) supports and exchange rate reforms. Lagarde

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