Birr’s Collapse Erodes EDIF’s Deposit Guarantee Even As Reserves Triple
The birr’s slide against the dollar has quietly eaten away at the real value of Ethiopia’s deposit insurance guarantee, even as the fund backing it has grown sharply in nominal terms. The Ethiopian Deposit Insurance Fund (EDIF) said its total reserves have reached 27.43 billion birr, up from roughly 6.5 billion birr when it began...