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The Ethiopian government decided that foreign exchange rates would be regulated by the market system starting Monday. Following this, banks increased the value of foreign currencies.
The government says the move to a market-based foreign exchange system will “bring many economic benefits.” However, economists who spoke to us said “the damage will be severe, at least in the short term,” they said.
Their long-term effectiveness, they tell us, depends on the stability of the country and the policies of its government.
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