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 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 half of monthly expenditures made abroad. Ethiopia's overall foreign exchange holdings as of 2010 According to the figures for 2019, there were enough foreign exchange reserves on hand to last 2.2 months. The year is The average yearly foreign exchange reserves between 2010 and 2018 were sufficient to pay for two months' worth of purchases abroad, according to IMF data.

Source : The reporter 

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