Why Ethiopia Ended Half a Century of Currency Control

Why Ethiopia Ended Half a Century of Currency Control
For the past half-century, Ethiopia tightly controlled the official value of its currency, the birr. That changed in July, when unmanageable debts and dwindling foreign reserves forced the government in Addis Ababa to liberalize the exchange rate regime. The decision, which followed similar moves by Egypt and Nigeria, allowed the Horn of Africa nation to clinch $3.4 billion from the... ...

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