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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Information about the huge Commercial Bank of Ethiopia headquarters building


 Information about the huge Commercial Bank of Ethiopia headquarters building:

- The foundation stone of the building was laid on June 20, 2007 E.C by Bereket Simon, a policy advisor and then Chairman of the Board of Directors of the Commercial Bank of Ethiopia.

- A long study has been done to carry out the construction and it has taken its own time to find the site; After 18,308 square meters of land was given to the building, a design competition was held with the participation of many, making it the current winner.

- It took 7 years to identify the building design and construction facility.

- The building is state-of-the-art and incorporates an unusual structure in Ethiopia.

- Construction of the building was carried out under the supervision of Addis Ababa University Institute of Technology (AAiT) by the Chinese Government Construction Engineering Corporation.

- 4 underground and 49 above ground with a total of 53 floors with a total height of 209.15 meters and two large buildings with 11 and 13 floors. It has a total area of ​​over 165,000 square meters.

- The 11-storey building is for a conference; It has a modern Assembly Hall that can accommodate 2,500 people at a time, 5 small meeting halls with a capacity of 300 people and 200 seats (all can be connected to each other); It has staff cafeterias and a bank branch.

- The 13-storey building is not used as a commercial center. Includes state-of-the-art cinema with 5 rooms, malls, gymnasium, beauty parlor, children's amusement park, game zone, restaurants, and food court.

- The first floor of the main building is a permanent exhibition hall, from the 2nd to the 46th floor holding the office of the head office of the Bank. The 47th and 48th floors are cafeteria and recreation areas.

- It has 24 elevators, 26 scaffolders. The 4 floors have a range of up to 1,500 cars, including a state-of-the-art mechanical parking, as well as a variety of other services.

- The entire building has modern fire protection and CCTV cameras, media facilities, and 3 high-rise refurbished floors in the tallest building. It is built for modern security systems.

- It is equipped with a special technology called IBM to save water and electricity.

- The building is the tallest building in Addis Ababa, the tallest building in East Africa and across Africa.

- Construction cost $ 303.5 million.

- Commercial Bank of Ethiopia Headquarters


@Hilinasolom

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