Regulatory Alerts2011-11-01
National Bank of Ethiopia Annual Report 2010/2011
The National Bank of Ethiopia issued its 2010/2011 annual report, which outlines monetary and fiscal directives that sustained 11.4 percent GDP growth while managing 18.1 percent headline inflation through reserve money controls and a fixed 5 percent deposit rate. The central bank’s regulatory framework successfully expanded the banking sector to seventeen institutions and thirty-one microfinance entities, boosting credit disbursement and capital mobilization. Furthermore, the report highlights continued external sector stability, evidenced by USD 2.8 billion in exports and a transition to a USD 234.4 million current account surplus driven by foreign direct investment and private remittances.
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