Ethiopia 30.07.2024
- Millie
- Jul 30, 2024
- 1 min read
Ethiopia has decided to float its currency as part of a reform to ease foreign currency shortages and attract foreign investment. The birr has devalued around 30% over last weekend. https://www.ft.com/content/b944449d-eb70-4292-bea9-87c051f099ae
Two hundred thirty people have died so far after landslides within the country. A second landslide killed more as they searched for those trapped after the first. https://news.sky.com/story/at-least-229-dead-after-landslides-in-ethiopia-as-people-killed-while-trying-to-save-those-buried-under-mud-13183949
The IMF has approved a four-year $3.4bn extended credit facility arrangement for Ethiopia. $1bn was immediately disbursed. https://www.imf.org/en/News/Articles/2024/07/29/pr24291-ethiopia-imf-exec-board-approves-4yr-us3b-ecf-arr
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