Ethiopia to Sign Currency Swap Deal with Sudan
In an effort to ease the severe shortage of foreign currency within the country, the National Bank of Ethiopia (NBE) is expected to sign a three-year deal with the government of Sudan to swap some US$ 16 million worth of currency, allowing the neighboring countries to use their local currencies within each other’s borders without currency convergence. For the first time, Sudan started to receive foreign currency inflows, after the United States government lifted decades-long sanctions against the country. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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