Ethiopia's foreign exchange reserves in 2023 are only expected to cover 0.6 months, or 18 days, of international purchases, according to the International Monetary Fund (IMF).

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  Ethiopia's foreign exchange reserves in 2023 are only expected to cover 0.6 months, or 18 days, of international purchases, according to the International Monetary Fund (IMF). Ethiopia's foreign exchange reserves are only expected to cover 0.6 months or 18 days' worth of foreign purchases in 2022, according to the IMF's most recent report on global economic growth and status. It is also expected that this situation may deteriorate in 2023. Ethiopia's foreign exchange reserves in 2023 are only expected to cover 0.7 months, or 21 days, of international purchases, according to the International Monetary Fund (IMF) . Consequently, in the year According to the organization's projection, Ethiopia will only have enough foreign exchange reserves to cover purchases for 0.6 months. Ethiopia's average yearly foreign exchange reserves for the previous five years are shown by the same IMF statistics. In 2021, there were sufficient foreign exchange reserves to pay for
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Ethio Telecom CEO Frehiwot Tamiru reported on the company's 6 months performance today

 

Ethio Telecom Report:

Ethio Telecom CEO Frehiwot Tamiru reported on the company's 6 months performance today.

According to Ethio Telecom:

•  It is said that it made a profit in 6 months.

• Earned a total of 28 billion birr in 6 months. This is 86.4 percent of the plan; Compared to the previous year, it grew by 6.7 percent.

• Received $ 74.8 million in foreign exchange earnings; Achieved 89.3 percent of the plan.

• Announces service disruptions  to 3,473 mobile stations, towers due to war, conflict. As a result, it has lost 3.67 billion birr in six months.

• A total of 328.9 million birr has been spent to replace damaged and war-torn areas and to restore services.

Ethio Telecom announced that there are currently woredas in various areas, including Tigray State which are not functional yet.

SHe said the condition of the telecom infrastructure in the area could not be ascertained.

She apologizes to all customers who have experienced service interruptions.

Info: Sheger FM 102.1

@Hilinasolom

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