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Ethiopia adjusts foreign exchange regulations.

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Ethiopia has made major adjustments to its foreign exchange regulations in a bid to cure an acute shortage of especially dollar bills.

Prime Minister Abiy Ahmed came back admitted that the shortage was a big headache to the country but that it was going to take years to solve.

Since then, Ethiopia has secured dollar injection promises from the United Arab Emirates and other financial players.



The latest rules transmitted by the PM’s chief of staff were reached after Abiy met the Macroeconomic Committee of which he is chairman of the measures include the following:

1 – The Committee raised the interest rate yield for “27% NBE bill” that requires private banks to purchase National Bank of Ethiopia (NBE) bonds from current 3% to 5%.

2 – They also removed the current diaspora account limit of USD 50,000. Diaspora account holders can now save unlimited amount in Forex.

3 – NBE’s purchase of 30% of the forex earnings of the private banks will be at mid rate instead of the current buying rate.

4 – Per their 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.

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The most visible reforms have been on the political front with the release of political prisoners, revisiting repressive laws and putting Ethiopia on the path of credible polls in 2020.

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Motherland News

Nigerian President Buhari Warns Ballot box snatchers to value their lives

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President Muhammadu Buhari has warned those planning to snatch ballot boxes during the elections to desist or pay with his or her life if caught.



President Buhari who stated this at the opening session of the All Progressives Congress, APC, Caucus meeting in Abuja, on Monday, said that such act would be the last unlawful act the person will be brought to book.

Meanwhile, the governors of Imo, Rochas Okorocha and Ogun, Ibikunle Amosun were conspicuously absent at the meeting.

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Buhari who said he is confident that he has garnered enough supporters having gone round the country to campaign, urged party members to reassure their constituents to come out and vote on the rescheduled dates.

While urging party agents to watch out for the party interests at the polling units the president said that he has directed security agencies to identify hot spots and be ready to move should they suspect any attempts to cause problems by thugs across the country irrespective of party affiliations.

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– Vanguard

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Health & Lifestyle

DR Congo blame Unending Ebola Outbreak on Violence , Community Mistrust.

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DR Congo Ministry of Health spokesperson Jessica Ilunga has declared that violence and community mistrust have continued to hamper all efforts to control and end the fresh Ebola outbreak, which started Aug. 1.



Though according to the World Health Organization the number of new Ebola cases has dropped slightly in the Democratic Republic of the Congo as there are 33% fewer cases to date in February compared with the same time period in December per STAT’s Helen Branswell, but some experts warn Axios that there remain signs that this outbreak is far from over.

Meanwhile, some experts warn that, that doesn’t mean the world’s second-largest Ebola outbreak on record is yet under control, and in fact it could simply be moving to new areas of the sprawling country.

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Johns Hopkins’ public health expert Jennifer Nuzzo maintains there are several reasons people should continue to view this outbreak as a cause for concern.

However, Nuzzo said Congo needs more than money from the international community and the U.S. in particular. Safety concerns have largely caused the CDC to limit its Ebola experts to the capital city of Kinshasa, where some have returned after being evacuated during an uptick in election-related violence, Nuzzo added that Now is the time for the U.S. to send them into the field.

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