IMF applauds global sovereign debt roundtable for progress in addressing financial challenges

The Global Sovereign Debt Roundtable (GSDR) forum has made strides in assisting nations dealing with financial difficulties, which the International Monetary Fund (IMF) applauds.

In her Global Policy Agenda for the year, IMF Managing Director Kristalina Georgieva stated that the Fund has made tackling debt vulnerabilities and assisting international efforts to achieve prompt and predictable debt resolution a top priority, and that these efforts are now paying off.

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Source: capitalethiopia
@Ethiopianbusinessdaily

IMF to release first evaluation report on Ethiopia’s Macroeconomic Reform

The first evaluation report on Ethiopia’s macroeconomic reform will be released in the next few days, the International Monetary Fund (IMF) reveals. It said that authorities need to keep dealing with any issues that come up in the foreign exchange markets.

According to IMF Mission Chief for Ethiopia Alvaro Piris Chavarri, Ethiopia’s three-month-old reform initiative got off to a great start.

He told Capital, “I believe the program has gotten off to a great start, and the authorities have acted decisively in a well-prepared way.”

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Source: capitalethiopia
@Ethiopianbusinessdaily

BRICS Summit welcomes new members amid calls for global cooperation

The XVI BRICS Summit, held from October 22 to 24 in Kazan, has marked a significant turning point in the bloc’s expansion, as leaders from Brazil, Russia, India, China, and South Africa welcomed new member states. This strategic move aims to bolster the group’s influence on the global stage and reinforce its commitment to multilateralism and equitable development.

During the summit, the BRICS leaders emphasized the importance of inclusivity and cooperation, noting that the admission of new members reflects a growing interest from countries in the Global South.

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Source: capitalethiopia
@Ethiopianbusinessdaily

Austrian companies show interest in investing in Ethiopia

Ethiopia is attracting attention from Austrian investors, with seven companies expressing interest in establishing a presence in the country. According to the Austrian Ambassador to Ethiopia, these businesses range from individual entrepreneurs to small and medium-sized enterprises, as well as larger corporations, all motivated by a desire for international cooperation and a commitment to Ethiopia’s growth.

The Ethiopian government has been actively liberalizing sectors previously closed to foreign investors, including banking, telecommunications, logistics, and retail.

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Source: capitalethiopia
@Ethiopianbusinessdaily

በፍራንኮ_ቫሉታ ጥሬ እቃ ለማስገባት የኤሌክትሮኒክ የማጓጓዣ ሰነድ ተፈቅዷል!

የጉምሩክ ኮሚሽን በራሳቸው የውጭ ምንዛሪ (ፍራንኮ ቫሉታ) ጥሬ ዕቃ ወደ አገር ውስጥ የሚያስገቡ ኩባንያዎች የሚያቀርቧቸው የኤሌክትሮኒክ የማጓጓዣ ሰነዶች ተቀባይነት አግኝተው እንዲገለገሉ ፈቅዷል፡፡

በራሳቸው የውጭ ምንዛሪ (ፍራንኮ ቫሉታ) ሥርዓት ጥሬ ዕቃ ወደ አገር የሚያስገቡ ኩባንያዎች ብቻ የሚያቀርቡት Telex Release እና Sea Waybill ሰነዶች እንደ መጓጓዣ ሰነድ ተቀባይነት አግኝተው ተገቢው አገልግሎት ማግኘት ይችላሉ ተብሏል!

Source: theethiopianeconomistview
@Ethiopianbusinessdaily

በባንኮች መካከል የሚደረግ የገንዘብ ግብይት በኢትዮጵያ ሰነደ ሙዓለ ንዋይ ገበያ የግብይት መድረክ ላይ ብቻ እንደሚሆን ብሔራዊ ባንክ አስታወቀ

የኢትዮጵያ ብሔራዊ ባንክ ባንኮች እርስበርሳቸው የሚበዳደሩበትን የገንዘብ ገበያ በይፋ መጀመሩን አስታዉቋል ።

በባንኮች መካከል የሚደረግ የገንዘብ ግብይት የአጭር ጊዜ ማለትም የአንድ ቀን ወይንም የሰባት ቀናት የመክፈያ ጊዜ ያላቸው ብድሮችን እንደሚያካትት ተገልጿል ።

የኢትዮጵያ ብሔራዊ ባንክ የወለድ-ተመንን መሰረት ወደ አደረገ የገንዘብ ፖሊሲ ማዕቀፍ መግባቱን ተከትሎና በመካከለኛ ጊዜ ስትራቴጂ ዕቅዱ ሊተገብራቸው ከያዛቸው ዕቅዶች አንዱ የሆነው በባንኮች መካከል የሚደረግ የገንዘብ ግብይት (interbank money market) አንደኛው መሆኑ ይታወቃል ።

በባንኮች መካከል የሚደረግ የገንዘብ ግብይት ለባንኮች አስተማማኝ፣ ቀልጣፋ እና ግልጽነት ያለው የዕለት ተዕለት የገንዘብ ፍሰት ፍላጎቶቻቸውን የሚያስተዳድሩበትን ምቹ ምህዳር ይፈጥራል ብሏል።

ይህ የገንዘብ ግብይት በኢትዮጵያ ሰነደ ሙዓለ ንዋይ ገበያ የግብይት መድረክ (ESX trading platform) ላይ ብቻ እንዲሆን ያለዉ ብሔራዊ ባንክ ይህ ጅምር ባንኮች የአጭር ጊዜ የገንዘብ ጉድለትን በመሸፈን ወይም ትርፍ ገንዘብን ለሌሎች ባንኮች በማበደር የገንዘብ ፍሰትን በብቃት እንዲያስተዳደሩ እንደሚያስችላቸው ታምኖበታል።

Source: capitalethiopia
@Ethiopianbusinessdaily

Partner's Content: #Mesirat

ለዕድገት ቁልፉ ምንድን ነው?

ኢንቨስትመንትን ከንግድ ግቦች ጋር ማጣጣም የሚቻለው እንዴት ነው?

ለስልጠናው አሁኑኑ ይመዝገቡ! https://forms.gle/UW9zXcPzEwnciHYL9

"የኢንቨስትመንት እቅድ – የእድገት ስትራቴጂ" ስልጠናን በነፃ ይሳተፉና ውጤታማ የኢንቨስትመንት ስትራቴጂዎችን ያግኙ!
🗓 ጥቅምት 28, 2017 ዓ.ም
🕒 ከቀኑ 8:00 እስከ 11:00 ሰዓት

#ዕድገት #ኢንቨስትመንት #መስራት

በዓለም አቀፍ የሁዋዌይ አይሲቲ ዉድድር ላይ ከፍተኛ ዉጤት አምጥተዋል የተባሉ ተማሪዎች ሽልማት ተበርክቶላቸዋል

እነዚህ ተማሪዎች የዓለም አቀፉ የሁዋዌይ አይሲቲ ውድድር "Huawei  ICT Competition 2023-2024" ላይ ተሳትፎ ያደረጉ እና ከፍተኛ ዉጤት ማስመዝገብ የቻሉ መሆናቸዉ ተነግሯል።

በዚህ አመት ብቻ ከ2,500 በላይ ተማሪዎች ውድድሩን ለመቀላቀል የተመዘገቡ ሲሆን 120 ያህሉ ለሀገር አቀፍ የፍፃሜ ውድድር አልፈው የተሳትፎ ሰርተፍኬት የወሰዱ መሆናቸዉ ተነግሯል።  ዘጠኙ ኢትዮጵያን ወክለው በቱኒዚያ በተካሄደው ክፍለ አህጉራዊ ውድድር በመሳተፍ የሶስተኛ ደረጃን ሽልማት ማግኘታቸው በመድረኩ የተገለፀ ሲሆን የ2024-2025 ውድድር መርሐግብርም ይፋ ተደርጓል ።

Source: capitalethiopia
@Ethiopianbusinessdaily

Approximately 400Kg of gold have been transferred from the Jubilee Palace, on Menelik Avenue, to the National Bank of Ethiopia (NBE), Prime Minister Abiy Ahmed (PhD) disclosed to Parliament. The transfer followed the completion of renovation work at the palace, which was carried out by Varnero Construction.

Source: addisfortune
@Ethiopianbusinessdaily

Prime Minister Abiy told MPs that his administration is not collecting as much taxes as the economy generates, attributing its main stay to the informal economy. His administration plans to collect 1.5 trillion in domestic revenues this year, with 900 billion Br from federal and 600 billion Br from regional sources. Tax to GDP ratio remains half the sub-Saharan Africa average of 15pc.

Source: addisfortune
@Ethiopianbusinessdaily

“We don’t collect taxes,” said the Prime Minister, stating that the majority of the economy is informal. His government plans to collect 1.5 trillion in revenues this year, with 900 billion Br from federal and 600 billion from regional sources.

Source: addisfortune
@Ethiopianbusinessdaily

For the first time, the export of goods, valued at 1.5 billion, surpassed that of service exports, which came in at 1.6 billion, disclosed Prime Minister Abiy Ahmed (PhD). Gold and coffee were the leading export commodities, with gold accounting for half a billion and coffee generating 760 million

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Source: addisfortune
@Ethiopianbusinessdaily

#FuelFinancing An estimated 3.2 billion dollars in letters of credit will be issued annually to meet Ethiopia's fuel import needs, with private banks expected to cover 1.6 billion dollars over the year. Banks are anticipated to commit between 13pc and 17pc of their projected forex inflows for the current fiscal year towards settling arrears in fuel import liabilities. Central Bank official argue that their decision presents potentially lucrative opportunities for private banks while urging the importance of effective forex management.

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Source: addisfortune
@Ethiopianbusinessdaily

#Banking Dashen Bank's strategy to diversify income sources and focus on non-interest income has proven rewarding, contributing to its robust financial performance. Under its president, Asfaw Alemu, the Bank's total assets expanded by 26.9pc to 183.72 billion Br. However, its management also acknowledged the need for continual improvement in a fast-paced and evolving financial sector.

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Source: addisfortune
@Ethiopianbusinessdaily

#ForexMarket The relentless depreciation of the Birr brought the unaddressed economic fundamentals into sharp focus, revealing the limitations of the Central Bank in controlling the forex market. Analysts warn of a likely continuance of this depreciative trend of the Brewed Buck without substantial forex inflows. This as banks display a mix of adaptability and limitations in handling macroeconomic pressures.

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Source: addisfortune
@Ethiopianbusinessdaily

#BRICS Notably, Egypt, Ethiopia, and the UAE have been long-term US allies. American investment in these countries, primarily in aid, forms a part of the US's soft power tool strategy to influence policy. Hence, these countries' inclusion in BRICS may hint at a shift in Washington's strategic repositioning.

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Source: addisfortune
@Ethiopianbusinessdaily