In a meeting chaired by Prime Minister Dr Abiy Ahmed, the Macroeconomic Committee raised the interest rate yield for “27% NBE bill” that requires private banks to purchase the National Bank of Ethiopia (NBE) bonds from current 3% to 5%.
The Committee also removed the current Diaspora account limit of 50,000 US dollars, according to Fitsum Arega, Chief of Staff at the Prime Minister Office.
Diaspora account holders can now save unlimited amount in foreign exchange, Fitsum said on Twitter.
NBE’s purchase of 30% of the foreign exchange earnings of the private banks will be at mid rate instead of the current buying rate, he added.
As per the Committee’s decision the list of business that are eligible to accept payments in foreign currency has also been expanded to include airport telecom services, chartered private airlines, guest houses, specialized clinics & hospitals serving foreign clients, he indicated.
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