Ethiopia Expands Market-Based FX Policies in Far-Reaching Central Bank Move

Ethiopia’s central bank has clarified that customs “indicative prices” for imports are reference points, not fixed rates, after confusion among banks over a directive from the prior month. By Team ShegaMoody’s affirms Ethiopia’s local currency rating at Caa2, foreign currency at Caa3, citing ongoing debt restructuring and liquidity risks. By Team Shega