Ethiopia Eyes Record 10% Inflation Rate Next Year With Tight Monetary Policy, Central Bank Chief Says

Ethiopia Eyes Record 10% Inflation Rate Next Year With Tight Monetary Policy, Central Bank Chief Says “If we achieve that, this will be the first in 10 years in Ethiopia. So obviously it's a delivering result,“ governor Mamo Mihretu noted at the IMF and World Bank spring meetings in Washington. For three consecutive years Ethiopia faced high inflation rates of around 30%, but managed to reduce inflation significantly to 13% by March, the official pointed out. Key outcomes of Ethiopia's monetary reforms, according to the Central Bank governor: ▪️a central bank policy rate was introduced to adjust monetary conditions; ▪️key interest rates turned positive in real terms for the first time, boosting the economy's investment appeal; ▪️reduced inflation enhances economic attractiveness; ▪️foreign exchange reserves tripled; ▪️exports are set to double, and remittances expected to rise by at least 25%, driven by increased inflows. Subscribe to @sputnik_africa Sputnik Africa | X Source: Sputnik Africa