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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Inflation rises to 35.1 percent in December, while food inflation reaches 41.6 percent.


 #CSA Ethiopia

Inflation rises to 35.1 percent in December, while food inflation reaches 41.6 percent.

According to a monthly report released by the Central Statistics Agency, December 2022 Overall inflation showed a slight increase of 1.4 percentage points and an index of 0.5 percent compared to October 2022.

At the same time, non-food inflation rose by 2.8 percentage points.

December 2022 Total inflation rose by 35.1 percent compared to December 2021. Food inflation in December 2022 is higher than in December 2021. Compared with 41.6 percent.

Cereal prices have fallen sharply this month, with vegetable prices rising. Rice, teff, wheat, barley, maize, sorghum, beans, peas, lentils, and lentils have all declined. However, meat, milk, cheese and eggs, as well as spices (mainly salt and pepper) showed an increase. Vegetable oil and butter have also increased slightly. Coffee and soft drinks have gone up in price.

On the other hand, non-food inflation is expected to increase in December 2022 Since December 2021 Compared with 26.6 percent.

@Hilinasolom

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