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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Safaricom - Ethiopia to start operations in early April


 #SafaricomEthiopia

Safaricom - Ethiopia to start operations in early April.

Matthew Harrison Harvey, the agency's head of oversight and foreign affairs, said the agreement with the government indicated that they would be operational within nine months from the date of issuance of the license, and that they were working to start a business from next April.

He told Capital News.

A.D. Safaricom Telecommunication Ethiopia, which has been licensed to operate since July 9, 2021, has launched telecom expansion in the country.

The company's first data center was launched last month and the company is in the process of networking.

Matthew Harrison Harvey  said it is working with two network providers, Nokia and Huawei, and that Huawei will cover the rest of the country with core network infrastructure in Addis Ababa and the surrounding area.

"We are still in talks with Ethio Telecom on infrastructure sharing," he added.

He said work is underway to connect Safaricom customers and Ethio Telecom customers alongside the infrastructure.

#Capital_Newspaper 

@Hilinasolom

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