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The birr (Amharic: ብር) is the primary unit of currency in Ethiopia.It is subdivided into 100 santims.. In 1931, Emperor Haile Selassie formally requested that the international community use the name Ethiopia (as it had already been known internally for at least 1,600 years [2]) instead of the exonym Abyssinia, and the issuing Bank of Abyssinia also became the Bank of Ethiopia.
The National Bank of Ethiopia (NBE) in 2008. On 29 July 2024, the National Bank of Ethiopia (NBE) relaxed restrictions on the value of the Ethiopian birr to secure a loan of $10.7 billion from the International Monetary Fund (IMF) and World Bank. [1]
The nakfa (ISO 4217 code: ERN; Tigrinya: ናቕፋ naḳfa, or Arabic: ناكفا or نقفة nākfā) is the currency of Eritrea and was introduced on 15 November 1997 to replace the Ethiopian birr at par. The currency takes its name from the Eritrean town of Nakfa, site of the first major victory of the Eritrean War of Independence.
By the second year of the villagization effort, Olom says, top officials told him he needed to tap other sources of funding, including money coming in from the World Bank’s health and education initiative. He says he diverted 90 million Ethiopian birr — roughly $5 million at the time — in each of the next two years.
Ethiopia's first revenues were issued in 1930. The earliest issue consisted of four stamps printed by Waterlow and Sons, with a Lion of Judah in the centre. This issue exists either with a background design of ornamental scallops or with a plain background. The Ethiopian Empire fell to Italy at the end of the Second Italo-Ethiopian War in 1936.
Its envisaged to observe public service and complete its mission ethically by 2020, as well as contributing economic development and social welfare by promoting modern Tax and Customs Administration. In 2022/23 fiscal year, the ministry sought to secure 450 billion birr in tax revenue. [2] The current minister is Lake Ayalew from 2021. [3]
Telebirr (Amharic: ቴሌብር) [1] [2] is a mobile payment service developed and was launched by Ethio telecom, the state owned telecommunication and Internet service provider in Ethiopia. [3] [4] [5] It took five months to develop the end-to-end service. It facilitates the delivery of cashless transactions. [6]
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