“Nothing has been taken by the government to balance the legal foreign currency with the black market” – Ahmed Shide

“Nothing has been taken by the government to balance the legal foreign currency with the black market” – Ahmed Shide

Finance Minister Ahmed Shide said that nothing has been done by the government to balance or increase the legal foreign currency with the black market.
Ahmed Shide, the Minister of Finance who had a meeting with ETV; He said that in the last five years, the country’s debt has been reduced due to efforts to reduce the country’s debt.
On the other hand, the minister stated that various negotiations have been going on with the International Committee of Creditors and the countries to ease the debt burden. In particular, he said, less than a month ago, an agreement was reached to stop paying Ethiopia’s two-year debt.
He stated that there was a debt transfer of 2.2 billion dollars. First of all, we have made an agreement with the Chinese that we will not pay the debt for two or three years.
He also stated that an agreement has been reached not to pay debts for the next two years until Ethiopia is given complete debt relief and transfer.
The minister stated that Ethiopia prefers to treat creditors in the same way according to the common principle that Ethiopia has with its creditors. He said it was based on this principle that she did not pay the interest on the Eurobond that she was supposed to pay this month.
“The Eurobond we owe is one billion dollars,” said Mr. Ahmed Shide. He said that this is low compared to other countries.
The minister says that the idea that the interest was not paid is related to the lack of foreign currency. He explained that the non-participation was a matter of principle and not due to lack of foreign currency.
The minister said that the reform that the government is doing to increase the acquisition and management of foreign currency can be seen in its own process. He said that nothing has been done by the government to balance or increase the legal foreign currency with the black market.
He stated that the information disseminated recently is inaccurate and aimed at creating market distortion and confusion in the economy; They conveyed their message that the society should realize that this is wrong and realize that there is no new decision or change in this regard and make the economic activities stable.

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