The Prime Minister Abiy Ahmed’s administration introduced that the banking sector is open for expatriate traders. It's a determination from the “council of ministers” to be applied straight away.
It was not even debated within the Ethiopian parliament – a minimum of for procedural formality.
It's definitely questionable why the PM Abiy Ahmed selected this time to introduce an financial coverage that will have a severe repercussions for Ethiopia. There are views amongst Ethiopians who're discussing the matter that the choice might need one thing to do with imposition from Bretton Woods Establishments ( clearly they're dominated by western powers particularly the USA).
Most of the banks within the Ethiopian banking sector are fairly new and shouldn't have robust monetary, technological and human sources that will allow them to compete with the large sharks. Most of the banks don't even cost month-to-month service charges.
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