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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African Union chair calls for Ethiopia truce, peace talks

 AU-led peace talks proposed for earlier this month were delayed for logistical reasons.

Getachew Reda, a spokesperson for the Tigray forces, called the AU statement welcome if overdue "in light of the extremely alarming humanitarian crisis unfolding as a result of the campaign by the Eritrean army and its Ethiopian allies."

Ethiopian government spokesperson Legesse Tulu, military spokesperson Colonel Getnet Adane, Redwan Hussein, national security advisor to the prime minister Abiy Ahmed, and Abiy's spokesperson Billene Seyoum did not immediately respond to requests for comment.

Source :Routers 

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