The country’s central bank, the National Bank of Ethiopia, is battling a severe shortage of foreign exchange reserves that hurts efforts to service the dollar-denominated debt.
bailout needed
Ethiopia: Birr devaluation set to be a mixed blessing for economy
As Ethiopia battles the economic consequences of the coronavirus and the war in the Tigray region, speculation abounds that the country will require a bailout from the International Monetary Fund (IMF) to avert a sovereign debt default.
