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Ethiopian Birr (ETB/USD): Why the government ended 50 years of currency control


Ethiopian Birr (ETB/USD): Why the government ended 50 years of currency control

For the past half century, Ethiopia tightly controlled the official value of its currency, the birr. That changed in July, when unmanageable debt and dwindling foreign reserves forced the government in Addis Ababa to liberalize the exchange rate. That decision, which followed similar moves by Egypt and Nigeria, allowed the Horn of Africa country to […]