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The National Bank of Ethiopia has officially lifted a long-standing restriction that previously required all export trade permits for goods heading to the People's Republic of China to be processed exclusively through the state-owned Commercial Bank of Ethiopia (CBE)....
ADDIS ABABA – Ethiopia’s economic resilience and reform momentum received recognition at a high-level panel held during the IMF–World Bank Spring Meetings 2026 in Washington, D.C., where central bank governor Eyob Tekalign outlined the country’s strategy for navigating a tightening global financing environment.Speaking at a session titled “Adapting to a New External Financing Landscape,” the governor of the National Bank of Ethiopia (NBE) detailed a series of domestically driven reforms aimed at stabilising the macroeconomic environment while laying the groundwork for long-term growth.Eyob pointed to a comprehensive, homegrown reform agenda that has prioritised exchange rate adjustments, monetary policy modernisation, and structural reforms designed to shift the economy toward greater private sector participation. Efforts to improve domestic resource mobilisation have also featured prominently, as authorities seek to reduce reliance on external financing amid increasingly constrained global liquidity conditions.According to the governor, these measures are beginning to yield tangible results. Export performance has strengthened, foreign exchange reserve buffers have improved, and government revenue collection has shown signs of recovery. Together, these gains are helping to cushion the economy against external shocks and reinforcing policy credibility.The panel discussion comes at a time when many developing economies face mounting pressure from tighter financial conditions, rising debt vulnerabilities, and uncertain capital flows. Against this backdrop, Ethiopia’s emphasis on nationally owned reforms drew attention as a potential model for building resilience in a challenging global context.Still, Eyob cautioned that domestic reforms alone are not sufficient. He underscored the continued importance of coordinated support from development partners, particularly multilateral institutions and bilateral donors, to sustain reform efforts and bridge financing gaps. External assistance, he noted, remains vital in supporting critical sectors and maintaining reform momentum during periods of global uncertainty.Participants at the panel echoed the need for stronger collaboration between countries and development partners, highlighting the growing complexity of the international financing landscape. The discussion also touched on the importance of policy coherence, institutional capacity, and transparency in ensuring that reforms translate into inclusive and sustainable outcomes.Ethiopia’s reform programme has increasingly focused on creating conditions conducive to private investment, improving competitiveness, and enhancing economic diversification. Policymakers view these efforts as central to reducing structural bottlenecks and unlocking new sources of growth.Eyob reaffirmed the government’s commitment to maintaining macroeconomic stability while advancing reforms that support a more resilient and inclusive economy. He also pointed to a rising national ambition to achieve economic transformation and shared prosperity, describing Ethiopia as positioning itself to emerge as a leading economy on the African continent.While challenges remain, including external vulnerabilities and financing constraints, officials appear confident that a combination of disciplined policy reforms and sustained international support will help steer the country through a complex global environment. ...
By Staff Writer...
