Ethiopia: to liberalize the financial sector, capital market
- March 28, 2019
- - 5:09 pm
Governor of the National Bank of Ethiopia Yinager Dessie announced March 28 to the nation’s parliament that the government plans to liberalize the financial sector and capital market to provide for foreign participation. The development conforms to the track record of politically-sensitive economic reforms initiated by the Abiy Ahmed administration that also carry no immediate term timetable to them. Liberalizing Ethiopia’s financial sector, conventionally dominated by state-owned or state-favored private banking institutions, is consistent with plans to privatize (either fully or partially) other strategic components of the Ethiopian economy, such as Ethiopian Airlines, Ethio Telecom, Ethiopian Electric Power Corporation, and …
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