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2025-06-30

Treasury Bond Purchase (Repealing) Directive No. MFAD/TBOND/002/2025

The National Bank of Ethiopia has issued Directive No. MFAD/TBOND/002/2025 to formally repeal the Treasury Bond Purchase Directive No. MFAD/TRBO/001/2022, effective June 30, 2025. The directive preserves outstanding June 2025 Treasury Bond allotments, mandating their settlement by July 15, 2025, while allowing pre-existing bonds to remain governed by the repealed directive as necessary. Issued under Proclamation No. 1359/2025, this repeal streamlines the regulatory framework for central bank treasury bond operations without disrupting ongoing purchase allotments.

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1 DIRECTIVE NO. MFAD/TBOND/002/2025 A DIRECTIVE TO REPEAL THE TREASURY BOND PURCHASE DIRECTIVE NO. MFAD/TRBO/001/2022 Whereas, it has been found necessary to repeal the Treasury Bond Purchase Directive No. MFAD/TRBO/001/2022; NOW, THEREFORE, in accordance with Articles 6 (5, 14), 26(1/b and e), and 53 (2) of the National Bank of Ethiopia Proclamation No. 1359/2025, the National Bank has hereby issued this Directive as follow:

  1. Short Title This directive may be cited as the “Treasury Bond Purchase (Repealing) Directive No. MFAD/TRBO/002/2025.”
  2. Repealed Directive The Treasury Bond Purchase Directive No. MFAD/TRBO/001/2022 is hereby repealed.
  3. Transitory Provision 3.1 Notwithstanding Article 2 of this directive, any outstanding Treasury Bond allotments for June 2025 that have not yet been purchased in accordance with Article 5 of the Treasury Bond Purchase Directive No. MFAD/TRBO/001/2022 shall remain in e‘ect and shall apply to any outstanding Treasury Bond purchase allotments of each bank. The purchase of such Treasury Bond shall be settled no later than July 15, 2025. 3.2 Notwithstanding Article 2 of this directive, the Treasury bond issued before the e‘ective date of this Directive or issued in accordance Sub-article 3.1 of this Article, shall continue to be governed, as may necessary, by the Treasury Bond Purchase Directive No. MFAD/TRBO/001/2022.
  4. E‡ective Date This directive shall come into force as of the 30 day of June 2025
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