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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Former PM Hailemariam Desalegn to be arrested and ordered to appear in court


 Former PM Hailemariam Desalegn to be arrested and ordered to appear in court

Former Federal Democratic Republic of Ethiopia (FDRE) Prime Minister Hailemariam Desalegn to be arrested and charged with felony criminal mischief.

Four defendants, including former Metek Director General Kinfe Dagnawu, who has been in custody since November 4, 2011 E.C, have been indicted on corruption charges related to the purchase of farm implements.

Accordingly, on July 11, 2013 E.C, the Minister of Finance, Ahmed Shide, appeared in court. In a 2014 low interest rate agreement, Ethiopia's defense received $ 50 million from the Polish government, which was paid to agricultural equipment companies in Poland, and the money was not imported.

Another is Hailemariam Desalegn, who has been repeatedly summoned to testify in his defense.

Hailemariam Desalegn, who was summoned by the Federal Police, responded by saying that he had not been able to locate them through the office of the former Prime Minister.

Defendant's attorneys, for their part, said Hailemariam Desalegn was working for the Roman Foundation and was being escorted by government police.

Federal High Court Lideta 5th Corruption Crimes Tribunal orders police to search for Hailemariam Desalegn

He also rescheduled the hearing for March 8, 9, and 12 to hear defense evidence.

@Hilinasolom

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