Ethiopia Lets Currency Go into Freefall to get IMF Loan

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Ethiopia Lets Currency Go into Freefall to get IMF Loan
Ethiopia Lets Currency Go into Freefall to get IMF Loan

Africa-Press – Ethiopia. Ethiopia has secured a $3,4 Billion loan from the International Monetary Fund. But the loan came only after Ethiopia agreed to end its fixed currency exchange rate. The Ethiopian Birr lost 30% of its value on July 30. The currencies devaluation could lead to inflation because imports will get more expensive. Will Ethiopia become the next country to face protests because of the IMF’s actions?

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