Ethiopia’s foreign currency supply available for importers and travellers alike is increasingly facing chronic shortages. As the country’s foreign exchange provision plummets into a whirlpool, the parallel or black market for hard foreign currency (which has become a rare commodity), is thriving in the country.
These are trying days for any business in Ethiopia. The undeclared but frequent power shedding on top of credit crunch from the financial industry, not to mention the bureaucratic hassle, is testing the patience of many business owners. Continue reading Ethiopia’s Foreign Currency Crisis