Search results
Results from the WOW.Com Content Network
Switzerland's foreign exchange reserves consist of a significant portion of the reserves is held in major foreign currencies, including the U.S. dollar, euro, and Japanese yen. [205] Switzerland also has substantial gold reserves, providing a hedge against currency fluctuations and inflation. [ 205 ]
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]
In June 2020, India's foreign exchange reserves crossed the US$500 billion mark for the first time. [16] In June 2021, India's foreign exchange reserves crossed the US$600 billion mark for the first time. [17] [18] India's total forex reserves touched an all-time high of US$642.453 billion on 8 September 2021. [19]
Ethiopia–India relations have existed for almost two millennia. Modern diplomatic relations between India and Ethiopia were established at the level of legations in July 1948, after the independence of India. The relationship was raised to the ambassadorial level in 1952. [1] India maintains an embassy in Addis Ababa and Ethiopia in New Delhi.
The Ethiopian News Agency (Amharic: የኢትዮጵያ ዜና አገልግሎት Ye-Ityopya Zéna Agelgelot (IZA) or ENA) is the official news agency of the government of Ethiopia. It is the oldest news organisation in Ethiopia.
Discover the latest breaking news in the U.S. and around the world — politics, weather, entertainment, lifestyle, finance, sports and much more.
During the Italian occupation, Italian banks were active in Ethiopia. [citation needed] On 15 April 1943, the State Bank of Ethiopia became the central bank and was active until 1963. By the time it ceased operations in 1963, the State Bank of Ethiopia had established 19 domestic branches, a branch in Khartoum, and a transit office in Djibouti. [4]
The Ethiopian economy has a large foreign debt, with an overall external debt of 28 billion US dollars. China owns over 13 billion dollars of its debt. Its debt to GDP ratio is smaller than similar and neighboring countries. Ethiopia currently has 2.4 billion dollars of foreign reserves, representing a decline compared to previous years. [38]