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ADDIS ABABA (Reuters) - Ethiopia's economy is expected to grow by 9.5 percent this fiscal year ending June before accelerating to 10.5 percent in 2015/16, the World Bank said on Friday, adding inflation will remain in single digits during this period. The ruling Ethiopian People's Revolutionary Democratic Front (EPRDF) has touted its economic achievements before Sunday's election, although no one doubts it will sweep to power again, as critics say...

Some 193 countries have adopted an agreement to increase finance flows to the developing world, at a summit in Addis Ababa, Ethiopia. The “action agenda” includes a call on rich countries to meet their commitment to mobilise US$100 billion a year from 2020 to deal with climate change. This is seen as key to unlocking a meaningful global climate deal in Paris this December, as well as agreeing post-2015 sustainable development goals. UN...

Addis Ababa, 16 March 2015 (ECA) - The Economic Commission for Africa and the African Union Commission will host the second Caucus of African Central Bank Governors, in Addis Ababa in the margins of the eighth Joint Annual Meetings of the AU Specialized Technical Committee on Finance, Monetary Affairs, Economic Planning and Integration and the ECA Conference of African Ministers of Finance, Planning and Economic Development. The Conference will be...

President Xi Jinping’s five-day trip to Africa comes as the continent suffers more than anywhere else from China’s slowing economic growth and an associated rout in the value of the region’s commodities exports. Trade between the two slumped 18 percent in the first nine months of 2015 from a year earlier, the largest decline in China’s trade with the world’s continents, according to China’s commerce ministry. Xi arrived Tuesday in...

The Commercial Bank of Ethiopia reviewed the 2015/16 first quarter performance during its quarter meeting held at Mekele town for three days from October 23 to 25, 2015. The three days meeting was led by the president, Mr. BekaluZeleke and was started with the presentation of the quarter report by Mrs. MeseretAsfaw, Director of Office of Strategy Management (OSM). The districts, processes and overall performance of the bank was thoroughly...

The National Bank of Ethiopia (NBE) recently issued two Directives namely Reinsurance Company Establishment and Fixation of Daily Foreign Exchange Cash Notes and Transaction Rate. As stated in the preamble of Reinsurance Company Establishment Directives No.SRB/1/2014,the establishment of national reinsurance companies promotes financial resource mobilization and reduces costs related to cross border reinsurance transactions; enhance underwriting capacity and solvency of direct insures by providing technical support and cover against accumulated...