Inflation Hit Ethiopia Demonetizes Currency To Curb Cash Hoarding

EMERGING MARKETS by Terence Zimwara The Ethiopian authorities has unveiled a brand new set of banknotes which can be anticipated to assist authorities in curbing money hoarding, unlawful commerce and illicit monetary flows. The transfer can also be geared toward boosting the liquidity of banks which can be struggling to deal with Ethiopia’s cash-based financial system. In a press release launched by way of Twitter on September 14, the nation’s Prime Minister, Abiy Ahmed Ali introduced the revealing of the “new Birr notes for 10, 50 & 100 denominations, with the introduction of a brand new Birr 200 word.” In the meantime, a report says the federal government plans to spend about $97 million

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