2merkato

The National Bank of Ethiopia has been engaged in efforts to stabilize the market and foreign currency exchange rate in the past seven months said Teklewold Atnafu, Governor of the bank.

The bank has initiated a range of activities to maintain an effective financial system to contribute to the national economic growth said Teklewold in the performance report he presented to the House of People’s Representatives.

The central bank has put into effect various monetary policies to lower inflation and stabilize the market in the previous months he said.

Ethiopia’s efforts to restructure its sovereign debt have hit a roadblock after negotiations with private bondholders ended without agreement, deepening uncertainty over the country’s only international bond.

Ethiopia’s capital, Addis Ababa, collected 15.4 billion Birr in the previous months of the current fiscal year. According to Addis Ababa Finance and Economic Development Bureau, the city’s revenue has been increasing on yearly basis.

Intending to attract more investment towards the city's hotel industry, the City Council of Addis Ababa decides to open a convention bureau.

Ethiopia’s capital city is going to get 294 mobile toilets that are worth 30 Million Birr. Addis Ababa Water & Sewerage Authority (AAWSA) is going to take delivery of the toilets that are three square meters from the Metal and Engineering Corporation (MetEC).