Local, Global Challenges Choking Import, Export
The impact of insecurity on the Ethiopian economy has been ongoing since 2013. Following the coming to the helm of a new prime minister, a pandemic and all-out war have continued to challenge the already weak economy. Recently, a new directive by the National Bank of Ethiopia has sent shock waves within exporters’ circles—the nation’s global traders who help ease the forex famine and elevate the hopes of importers. All these challenges are being faced at a time of global supply disruption caused by the Russia-Ukraine war. At such an important moment of unprecedented internal and external challenges, the government’s approach to the matter has a potential to define the economy, and hence, the country’s sustainability, writes Bamlak Fekadu.
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