Ethiopia credit caps lifted as the National Bank hikes its benchmark rate to 16% and eases FX surrender rules under a $3.4 billion IMF programme.
Africa · Eastern
Key Facts
—Credit cap removed. The National Bank of Ethiopia fully lifted the economy-wide annual credit growth ceiling on commercial banks.
—Benchmark rate hiked. The National Bank Rate was raised from 15% to 16%, the first change since its introduction in July 2024.
—FX surrender eased. Mandatory foreign-exchange surrender requirements for banks were cut from 50% to 30% of export proceeds.
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