Mekelle፡Telaviv, Nairobi, Pretoria, London, (Tigray Herald)
Ethiopia’s financial system achieves lower inflation, stability
Ethiopia’s financial system has achieved a significantly lower inflation rate and robust stability over the past five years, according to Mamo Mihretu, Governor of the National Bank of Ethiopia (NBE).
The Ethiopia Finance Forum 2025, hosted by the NBE, is currently underway at the Science Museum. In his address, Governor Mamo outlined the financial sector’s achievements, ongoing reforms, and future priorities.
Mamo emphasized that Ethiopia’s financial system has successfully navigated challenges such as high inflation, foreign currency shortages, and operational inefficiencies to reach a stable and favorable state.
He attributed this progress to macro-economic reforms implemented over the past five years, which have sharply reduced inflation and strengthened the sector’s foundation.
These reforms have cultivated a competitive, market-oriented environment that prioritizes the private sector, attracts foreign investment, and embraces technological innovation. New financial channels, business models, and technologies have been introduced, addressing previously underserved areas of the sector.
Governor Mamo underscored that the sustained reduction in inflation and ongoing advancements signal a bright future for Ethiopia’s financial system. He highlighted significant strides in leveraging technology to enhance efficiency, with notable progress in digital payments, lending, and savings.
The reforms have fostered a conducive environment for the private sector, with the government more committed than ever to collaborative efforts, he remarked.
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