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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

IMF Bailout

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Africa

Ethiopia eases forex curbs as it awaits crucial bailout

      By Aymeric Vincenot     Ethiopia said Monday it is easing foreign exchange curbs as part of a broader economic reform package, as the deeply-indebted nation awaits a multi-billion dollar bailout from international lenders. The value of the local currency, the birr, slid by around 30 percent against the dollar after the announcement of the measures by the central bank. "The reform introduces a competitive market-based determination […]

todayJuly 29, 2024 10

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Business / Economics

Sri Lanka cuts key interest rates, seeks China deal

    Sri Lanka's central bank cut interest rates Tuesday as the prime minister visited China seeking a debt restructuring deal crucial to maintaining an IMF bailout. Transport minister and government spokesman Bandula Gunawardana said Prime Minister Dinesh Gunawardena was in Beijing, the island's biggest bilateral creditor. "We are in the final stages of restructuring our foreign debt and the prime minister is in China for this purpose," Gunawardana told […]

todayMarch 26, 2024 24

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