Tag Archives: Demonetization

PM Abiy Ahmed’s Project X Thunderbolt

Ethiopia announced demonetization of new bank notes to fight inflation and currency hoarding
The demonetization announcement came out of the dark and impenetrable night and fell on the money changers, hoarders, thieves, and crooks like a thunderbolt! (Photo: @combankethiopia)

BY PROF. AL MARIAM

On September 13, 2020, two days into the Ethiopian New Year, H.E. Prime Minister Dr. Abiy Ahmed dropped a thunderbolt on Ethiopia! He announced in an unscheduled, nationally televised address demonetization of the current notes and introduction of new Birr notes for 10, 50, and 100 denominations and a novel Birr 200. Within 90 days, the old notes will no longer serve as a legal tender. Continue reading PM Abiy Ahmed’s Project X Thunderbolt